Needham & Company LLC Cuts Semrush (NASDAQ:SEMR) Price Target to $13.00

Semrush (NASDAQ:SEMR – Get Rating) had its price target decreased by Needham & Company LLC from $20.00 to $13.00 in a research report sent to investors on Tuesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the stock. Piper Sandler reduced their target price on shares of Semrush from $14.00 to $12.00 and set an overweight rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price objective on Semrush from $13.00 to $10.00 and set an equal weight rating on the stock in a report on Monday, December 19th.

Semrush Stock Down 4.6 %

Shares of NASDAQ SEMR opened at $9.08 on Tuesday. Semrush has a 12-month low of $7.16 and a 12-month high of $15.00. The firm’s 50-day simple moving average is $8.72 and its 200 day simple moving average is $9.81. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -37.83 and a beta of 0.93.

Institutional Investors Weigh In On Semrush

Several institutional investors have recently modified their holdings of the business. Credit Suisse AG boosted its stake in Semrush by 4.6% in the third quarter. Credit Suisse AG now owns 27,050 shares of the company’s stock valued at $303,000 after acquiring an additional 1,199 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Semrush by 91.5% in the 2nd quarter. Lazard Asset Management LLC now owns 4,956 shares of the company’s stock valued at $64,000 after purchasing an additional 2,368 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Semrush in the 3rd quarter worth $31,000. Wealthsource Partners LLC grew its stake in shares of Semrush by 20.5% during the second quarter. Wealthsource Partners LLC now owns 16,279 shares of the company’s stock worth $210,000 after purchasing an additional 2,769 shares during the period. Finally, Swiss National Bank increased its holdings in Semrush by 3.4% in the fourth quarter. Swiss National Bank now owns 94,100 shares of the company’s stock valued at $766,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 24.21% of the company’s stock.

Semrush Company Profile

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Semrush Holdings, Inc develops an online visibility management software-as-a-service platform worldwide. 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.