Semrush Holdings, Inc. (NASDAQ:SEMR – Get Rating) – Stock analysts at KeyCorp upped their Q1 2023 earnings estimates for Semrush in a research note issued on Tuesday, March 14th. KeyCorp analyst M. Turits now expects that the company will post earnings per share of ($0.06) for the quarter, up from their prior forecast of ($0.09). The consensus estimate for Semrush’s current full-year earnings is ($0.19) per share. KeyCorp also issued estimates for Semrush’s Q2 2023 earnings at ($0.03) EPS, Q3 2023 earnings at $0.00 EPS, Q4 2023 earnings at $0.02 EPS, FY2023 earnings at ($0.06) EPS, Q1 2024 earnings at $0.00 EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.01 EPS and FY2024 earnings at $0.03 EPS.
Other equities analysts have also issued reports about the stock. Morgan Stanley upped their target price on shares of Semrush from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Needham & Company LLC reduced their price objective on Semrush from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their price objective on Semrush from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday.
Semrush Stock Down 5.7 %
Insider Buying and Selling
In related news, CEO Oleg Shchegolev sold 1,000,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $8.60, for a total transaction of $8,600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,843,696 shares in the company, valued at $33,055,785.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 61.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its stake in Semrush by 10.8% in the fourth quarter. Morgan Stanley now owns 874,392 shares of the company’s stock valued at $7,118,000 after purchasing an additional 84,988 shares in the last quarter. Ancient Art L.P. grew its stake in Semrush by 1.1% in the fourth quarter. Ancient Art L.P. now owns 3,298,329 shares of the company’s stock valued at $26,848,000 after purchasing an additional 36,593 shares in the last quarter. Engineers Gate Manager LP grew its stake in Semrush by 46.1% in the fourth quarter. Engineers Gate Manager LP now owns 21,892 shares of the company’s stock valued at $178,000 after purchasing an additional 6,911 shares in the last quarter. Geode Capital Management LLC grew its stake in Semrush by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 327,183 shares of the company’s stock valued at $2,663,000 after purchasing an additional 7,929 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Semrush in the fourth quarter valued at approximately $377,000. 24.21% of the stock is currently owned by institutional investors.
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.
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