Semrush (NASDAQ:SEMR) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Semrush (NASDAQ:SEMR) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat reports. They currently have $20.00 price target on the stock, up from their prior price target of $17.00.

A number of other analysts also recently issued reports on SEMR. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Semrush in a report on Monday, November 11th. The Goldman Sachs Group lifted their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price target on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp lifted their price objective on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.13.

Semrush Price Performance

Shares of SEMR opened at $14.76 on Monday. Semrush has a 1 year low of $9.64 and a 1 year high of $16.42. The company has a 50 day simple moving average of $13.13 and a two-hundred day simple moving average of $13.57. The firm has a market cap of $2.17 billion, a P/E ratio of 184.52 and a beta of 1.62.

Insider Activity

In other Semrush news, Director Dmitry Melnikov sold 42,226 shares of Semrush stock in a transaction on Friday, December 13th. The shares were sold at an average price of $13.50, for a total transaction of $570,051.00. Following the completion of the transaction, the director now directly owns 9,099,091 shares of the company’s stock, valued at $122,837,728.50. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Mulroy sold 3,015 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $12.40, for a total transaction of $37,386.00. Following the transaction, the chief financial officer now owns 430,196 shares in the company, valued at $5,334,430.40. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,711 shares of company stock valued at $3,332,605. 57.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SEMR. FMR LLC lifted its stake in shares of Semrush by 19.4% during the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after acquiring an additional 467,517 shares during the last quarter. Wellington Management Group LLP grew its position in Semrush by 12.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock valued at $24,030,000 after acquiring an additional 168,400 shares during the last quarter. State Street Corp increased its stake in Semrush by 1.4% in the third quarter. State Street Corp now owns 954,409 shares of the company’s stock worth $14,994,000 after purchasing an additional 13,374 shares during the period. Geode Capital Management LLC boosted its stake in shares of Semrush by 4.8% during the third quarter. Geode Capital Management LLC now owns 788,290 shares of the company’s stock valued at $12,387,000 after purchasing an additional 36,173 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Semrush by 69.5% in the second quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock worth $7,132,000 after purchasing an additional 218,488 shares during the last quarter. Hedge funds and other institutional investors own 32.86% of the company’s stock.

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.