Semrush (NASDAQ:SEMR) Shares Gap Up – Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $11.50, but opened at $11.88. Semrush shares last traded at $12.55, with a volume of 103,014 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research note on Monday. KeyCorp increased their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price objective on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Semrush in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Semrush has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Semrush Trading Up 8.2 %

The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 155.52 and a beta of 1.62. The company’s 50 day moving average is $13.14 and its 200-day moving average is $13.57.

Insider Activity

In other Semrush news, Director Dmitry Melnikov sold 44,592 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.76, for a total value of $568,993.92. Following the transaction, the director now directly owns 8,978,501 shares of the company’s stock, valued at $114,565,672.76. This represents a 0.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Vitalii Obishchenko sold 5,293 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total transaction of $62,086.89. Following the transaction, the chief operating officer now directly owns 838,659 shares in the company, valued at approximately $9,837,470.07. This 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 260,696 shares of company stock valued at $3,295,219 over the last three months. Insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC raised its stake in Semrush by 278.9% during the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock worth $2,113,000 after acquiring an additional 99,021 shares in the last quarter. Barclays PLC lifted its position in shares of Semrush by 115.2% in 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 during the period. VELA Investment Management LLC bought a new stake in Semrush during the third quarter valued at $701,000. Renaissance Technologies LLC bought a new stake in shares of Semrush during the 2nd quarter valued at about $3,732,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Semrush in the 2nd quarter valued at $3,006,000. 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.