Semrush (NASDAQ:SEMR) Trading Up 9.2% – Still a Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s stock price rose 9.2% on Wednesday . The stock traded as high as $14.56 and last traded at $14.56. Approximately 253,473 shares traded hands during trading, a decline of 53% from the average daily volume of 542,492 shares. The stock had previously closed at $13.33.

Analyst Ratings Changes

SEMR has been the subject of several research reports. Northland Capmk raised Semrush to a “strong-buy” rating in a research report on Tuesday. KeyCorp increased their target price on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Semrush in a report on Wednesday. Finally, Northland Securities began coverage on Semrush in a report on Tuesday. They issued an “outperform” rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Semrush currently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Performance

The firm’s 50-day moving average price is $13.17 and its 200 day moving average price is $13.59. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 195.95 and a beta of 1.62.

Insider Buying and Selling

In related news, CFO Brian Mulroy sold 3,015 shares of Semrush stock in a transaction that occurred 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 of the company’s stock, valued at $5,334,430.40. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Vitalii Obishchenko sold 5,293 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total transaction of $62,086.89. Following the completion of the sale, the chief operating officer now owns 838,659 shares in the company, valued at approximately $9,837,470.07. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,711 shares of company stock valued at $3,332,605 over the last three months. Company insiders own 57.83% of the company’s stock.

Institutional Trading of Semrush

Several hedge funds have recently bought and sold shares of SEMR. Point72 Asset Management L.P. bought a new stake in shares of Semrush during the second quarter worth $123,000. DRW Securities LLC acquired a new position in Semrush during the third quarter worth $157,000. Virtu Financial LLC bought a new position in Semrush in the third quarter valued at $158,000. Olympiad Research LP acquired a new stake in Semrush in the 3rd quarter valued at $159,000. Finally, Dakota Wealth Management bought a new stake in Semrush during the 4th quarter worth about $199,000. 32.86% of the stock is currently 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.