Semrush (NASDAQ:SEMR) Sets New 12-Month High – Still a Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $16.42 and last traded at $16.37, with a volume of 403143 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Northland Securities started coverage on Semrush in a report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Semrush in a research note on Wednesday, January 15th. Finally, Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $17.00 to $20.00 in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Semrush Stock Performance

The stock has a fifty day simple moving average of $13.25 and a two-hundred day simple moving average of $13.61. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 206.28 and a beta of 1.62.

Insiders Place Their Bets

In other news, Director Dmitry Melnikov sold 42,226 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $13.50, for a total transaction of $570,051.00. Following the transaction, the director now owns 9,099,091 shares in the company, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Eugenie Levin sold 6,943 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $11.74, for a total value of $81,510.82. Following the completion of the sale, the president now owns 580,549 shares of the company’s stock, valued at approximately $6,815,645.26. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,711 shares of company stock worth $3,332,605. 57.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Semrush

Institutional investors have recently modified their holdings of the company. Verition Fund Management LLC lifted its stake in shares of Semrush by 278.9% in the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock valued at $2,113,000 after buying an additional 99,021 shares in the last quarter. Barclays PLC increased its holdings in Semrush by 115.2% during the 3rd quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after purchasing an additional 54,830 shares in the last quarter. VELA Investment Management LLC purchased a new stake in shares of Semrush in the third quarter worth approximately $701,000. Renaissance Technologies LLC bought a new position in shares of Semrush in the second quarter valued at approximately $3,732,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Semrush during the second quarter valued at approximately $3,006,000. 32.86% of the stock is owned by institutional investors and hedge funds.

Semrush Company Profile

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.