Semrush initiated with an Overweight at KeyBanc

KeyBanc initiated coverage of Semrush with an Overweight rating and $17 price target. The shares have gained traction as the company makes strides toward more favorable pricing, more paid customers, and a more formal entrance into the enterprise, the analyst tells investors in a research note. The firm says Semrush’s large base of customers, both paid and free, provides a solid backdrop for testing and iteration as well as an opportunity for conversion.