SEMrush (NASDAQ:SEMR) Shares Down 8%

SEMrush Holdings, Inc. (NASDAQ:SEMR) shares traded down 8% during mid-day trading on Thursday . The stock traded as low as $19.87 and last traded at $19.87. 1,178 shares traded hands during trading, a decline of 100% from the average session volume of 366,019 shares. The stock had previously closed at $21.60.

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of SEMrush in a report on Monday, April 19th. They set a “neutral” rating and a $18.50 price objective on the stock. Zacks Investment Research downgraded shares of SEMrush from a “buy” rating to a “hold” rating in a report on Wednesday, July 14th. Jefferies Financial Group assumed coverage on shares of SEMrush in a report on Monday, April 19th. They set a “hold” rating and a $18.00 price objective on the stock. KeyCorp assumed coverage on shares of SEMrush in a report on Monday, April 19th. They set an “overweight” rating and a $22.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of SEMrush in a report on Monday, April 19th. They set a “hold” rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.50.

The stock has a fifty day moving average of $19.29.

SEMrush (NASDAQ:SEMR) last issued its quarterly earnings results on Tuesday, May 11th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The business had revenue of $40.00 million during the quarter, compared to analyst estimates of $37.55 million. Analysts forecast that SEMrush Holdings, Inc. will post -0.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC acquired a new stake in shares of SEMrush during the 1st quarter worth approximately $13,116,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of SEMrush during the 1st quarter worth approximately $4,764,000. Ameriprise Financial Inc. acquired a new stake in shares of SEMrush during the 1st quarter worth approximately $4,601,000. Millennium Management LLC acquired a new stake in shares of SEMrush during the 1st quarter worth approximately $4,526,000. Finally, HBK Investments L P acquired a new stake in shares of SEMrush during the 1st quarter worth approximately $4,169,000. 6.52% of the stock is currently owned by institutional investors and hedge funds.

SEMrush Company Profile (NASDAQ:SEMR)

SEMrush Holdings, Inc develops online visibility management software as a service (SaaS) platform. It helps businesses to run search engine optimization, pay-per-click, content, social media, and competitive research campaigns. The company offers insights and solutions to build, manage, and measure campaigns across various marketing channels.

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