Semrush price target raised to $12 from $10 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Semrush to $12 from $10 and keeps an Overweight rating on the shares post the Q2 results. The company continues to execute on its growth and efficiency initiatives, the analyst tells investors in a research note. The firm anticipates a second half of 2023 growth reacceleration with an improving profitability outlook.