Semrush price target raised by $2 at Needham, here’s why

Needham raised the firm’s price target on Semrush to $15 from $13 and keeps a Buy rating on the shares. The firm came away with conversations with management with incremental confidence in the company’s platform and product vision, which should drive cross-selling and up-selling opportunities with existing customers along with new customer opportunities, with customers largely underpenetrated at only 107,000+ out of millions, the analyst tells investors in a research note.