KeyCorp Cuts Semrush (NASDAQ:SEMR) Price Target to $16.00

Semrush (NASDAQ:SEMR) had its target price cut by KeyCorp from $18.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 52.24% from the stock’s previous close.

SEMR has been the subject of several other reports. Northland Securities assumed coverage on Semrush in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 target price for the company. Morgan Stanley lowered their target price on Semrush from $19.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Semrush in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price objective on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Semrush presently has a consensus rating of “Buy” and an average target price of $16.43.

Semrush Stock Up 5.1 %

Shares of NASDAQ SEMR opened at $10.51 on Thursday. Semrush has a 12-month low of $7.90 and a 12-month high of $18.74. The firm has a market cap of $1.55 billion, a PE ratio of 131.39 and a beta of 1.79. The company’s fifty day simple moving average is $9.63 and its 200 day simple moving average is $12.66.

Insider Activity

In related news, President Eugenie Levin sold 11,662 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.15, for a total transaction of $130,031.30. Following the completion of the sale, the president now directly owns 686,268 shares of the company’s stock, valued at approximately $7,651,888.20. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Oleg Shchegolev sold 32,932 shares of Semrush stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.19, for a total value of $368,509.08. Following the sale, the chief executive officer now owns 7,268,282 shares in the company, valued at $81,332,075.58. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,406 shares of company stock worth $1,722,014 over the last quarter. Insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in Semrush by 115.2% during the third quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after buying an additional 54,830 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Semrush by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company’s stock valued at $6,080,000 after acquiring an additional 3,244 shares during the period. Dakota Wealth Management purchased a new stake in shares of Semrush during the 4th quarter worth approximately $199,000. SG Americas Securities LLC raised its holdings in shares of Semrush by 329.4% in the 4th quarter. SG Americas Securities LLC now owns 56,089 shares of the company’s stock worth $666,000 after purchasing an additional 43,027 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new position in Semrush in the fourth quarter valued at approximately $135,000. 32.86% of the stock is currently owned by institutional investors.

About Semrush

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.