JP Morgan raises Semrush PT on its search-engine optimization strength

Semrush Holdings

02/10/2024 13:48

** JP Morgan raises SaaS platform provider Semrush's
 SEMR.N  PT to $17 from $16
    ** New PT represents an 11.5% upside to the stock's last
close
    ** Says co's "bread and butter is its search engine
optimization capabilities", but its diverse offering in market
research, advertising analysis, content, and social media,
provides the company a competitive advantage
    ** Maintains "overweight", says SEMR benefits from "secular
tailwinds", as companies should increasingly seek to utilize the
online visibility and competitive intelligence tools that co
offers
    ** 4 of 6 brokerages rate the stock "buy" or higher, and 2
"hold" or lower; their median PT is $17
    ** Up to Tuesday's close, stock had risen 11.57% YTD

 (Reporting by Soumendra Mukherjee)
 ((Soumendra.mukherjee@thomsonreuters.com))