Semrush (NASDAQ:SEMR) Given New $12.00 Price Target at The Goldman Sachs Group

Semrush (NASDAQ:SEMR) had its target price dropped by The Goldman Sachs Group from $14.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 25.39% from the stock’s current price.

Other analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $20.00 in a report on Monday, January 13th. Northland Capmk raised Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their price target on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Northland Securities assumed coverage on shares of Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Semrush in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.14.

Semrush Stock Performance

SEMR traded down $0.28 during trading on Friday, reaching $9.57. 118,740 shares of the company traded hands, compared to its average volume of 535,941. The company has a market cap of $1.41 billion, a P/E ratio of 119.76 and a beta of 1.77. The firm has a fifty day simple moving average of $14.13 and a 200 day simple moving average of $13.71. Semrush has a 12-month low of $9.21 and a 12-month high of $18.74.

Insider Activity

In other news, Director Dmitry Melnikov sold 15,564 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $11.82, for a total value of $183,966.48. Following the completion of the sale, the director now owns 8,807,374 shares of the company’s stock, valued at approximately $104,103,160.68. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Andrew Warden sold 8,462 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total transaction of $99,090.02. Following the completion of the transaction, the chief marketing officer now directly owns 276,656 shares of the company’s stock, valued at $3,239,641.76. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 266,702 shares of company stock worth $3,441,515. Company insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

Several institutional investors have recently bought and sold shares of SEMR. Comerica Bank increased its stake in shares of Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company’s stock worth $75,000 after acquiring an additional 801 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Semrush by 3.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company’s stock valued at $299,000 after acquiring an additional 830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Semrush by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company’s stock worth $247,000 after acquiring an additional 912 shares in the last quarter. Magnetar Financial LLC grew its position in shares of Semrush by 6.3% in the fourth quarter. Magnetar Financial LLC now owns 15,653 shares of the company’s stock valued at $186,000 after purchasing an additional 933 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Semrush by 11.7% during the 4th quarter. MetLife Investment Management LLC now owns 23,028 shares of the company’s stock worth $274,000 after purchasing an additional 2,421 shares during the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

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.