Semrush initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Semrush with a Neutral rating and $10.50 price target. Semrush is an “increasingly valuable” online visibility management platform that facilitates strategic decision-making for businesses through solutions like search engine optimization and content creation, the analyst tells investors in a research note. However, the company’s reliance on access to data sets creates an existential risk for Semrush should larger ecosystem players wish to become competitive with their own tools, says the firm. As a result, Goldman believes the shares are fairly valued.