Levin Eugenie, President of SEMrush Holdings, Inc. (NASDAQ:SEMR), sold a significant portion of its Class A common stock. According to a recent filing with the SEC, Eugenie sold 28,800 shares on January 21, 2025. The stock was sold at a weighted average price of $16.29, with transactions taking place in a price range of $16.00 to $16.52. The total value of the sale was 469,152 dollars. The transaction comes as SEMrush is trading near its 52-week high of $16.95, with the stock showing impressive momentum, up over 32% year-to-date. According to InvestingPro analysis, the company appears to be fairly valued at the moment. Following this transaction, Eugenie retains ownership of 508,549 shares, some of which include restricted stock. The sale was made under a Rule 10b5-1 trading plan, originally adopted in May 2023 and amended in August 2024. SEMrush, with a market cap of $2.32 billion, maintains an “EXCELLENT” financial health rating according to InvestingProwhich offers comprehensive analysis including 16 additional ProTips and a detailed Pro Research Report for deeper insight into the company’s fundamentals and outlook.
In other recent news, SEMrush Holdings Inc. reported strong growth in Q3 2024, with revenue up 24% year-over-year to $97.4 million. Non-GAAP operating income was $12.1 million and annual recurring revenue increased 24% to $401 million, adding approximately 1,300 new paying customers. In light of these developments, SEMrush has raised its full-year revenue guidance for 2024.
The company’s business SEO product, launched in May 2023, is gaining traction with more than 90 accounts migrated by October. The net revenue retention rate was 107%, with higher ARR segments remaining above 120%.
As for analysts, Northland initiated coverage on SEMrush shares with an Outperform rating and a price target of $18.00, citing the company’s strong financial health and impressive gross profit margins. Similarly, Morgan Stanley (NYSE:) upgraded shares of SEMrush from Equalweight to Overweight, increasing their target price to $20.00. Both companies highlighted SEMrush’s growth potential and strategic initiatives.
These recent developments highlight SEMrush’s continued growth and adaptability in the evolving digital marketing landscape.
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