Semrush (NASDAQ:SEMR) Hits New 52-Week High – Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $18.74 and last traded at $18.06, with a volume of 539730 shares traded. The stock had previously closed at $18.37.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SEMR. Northland Securities assumed coverage on shares of Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Jefferies Financial Group lifted their target price on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Semrush in a research report on Wednesday, January 15th. Finally, Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research note on Tuesday, January 14th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, Semrush has an average rating of “Moderate Buy” and an average price target of $17.88.

Semrush Stock Performance

The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 225.77 and a beta of 1.69. The stock’s fifty day moving average is $14.34 and its two-hundred day moving average is $13.98.

Insider Activity

In other news, Director Dmitry Melnikov sold 42,226 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 in the company, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel David W. Mason sold 1,875 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $17.15, for a total transaction of $32,156.25. Following the completion of the sale, the general counsel now directly owns 158,415 shares in the company, valued at $2,716,817.25. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,090 shares of company stock worth $4,736,123 over the last ninety days. Corporate insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after buying an additional 3,706 shares during the last quarter. VELA Investment Management LLC acquired a new stake in shares of Semrush during the 3rd quarter valued at approximately $701,000. Olympiad Research LP bought a new position in Semrush during the third quarter worth $159,000. Principal Financial Group Inc. acquired a new position in Semrush in the third quarter worth $454,000. Finally, Los Angeles Capital Management LLC increased its stake in Semrush by 153.5% during the third quarter. Los Angeles Capital Management LLC now owns 48,769 shares of the company’s stock valued at $766,000 after purchasing an additional 29,534 shares during the last quarter. Institutional investors own 32.86% of the company’s stock.

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.