Semrush price target raised to $17 from $16 at JPMorgan

JPMorgan raised the firm’s price target on Semrush to $17 from $16 and keeps an Overweight rating on the shares following the analyst day. The company laid out a vision for an increasingly sophisticated, enterprise-grade search engine optimization platform that is moving upmarket and leveraging artificial intelligence, the analyst tells investors in a research note. The firm come away “incrementally positive,” saying disclosures around the customer segment reveal a relatively healthy and faster growing enterprise segment in terms of annual recurring revenue.