SEMrush (NYSE:SEMR) Shares Gap Up – Here’s What Happened

SEMrush Holdings, Inc. (NYSE:SEMR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.76, but opened at $11.79. SEMrush shares last traded at $11.82, with a volume of 25,267,240 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SEMR. Wall Street Zen upgraded SEMrush from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research upgraded SEMrush from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of SEMrush in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SEMrush currently has a consensus rating of “Reduce”.

SEMrush Price Performance

The stock has a fifty day simple moving average of $7.35. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -590.50 and a beta of 1.60.

SEMrush (NYSE:SEMR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $112.08 million during the quarter, compared to analyst estimates of $111.53 million. SEMrush had a negative net margin of 1.05% and a negative return on equity of 1.60%.

SEMrush Company Profile

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.