Semrush price target raised to $19 from $17 at KeyBanc

KeyBanc raised the firm’s price target on Semrush to $19 from $17 and keeps an Overweight rating on the shares. The firm notes results in the quarter were ahead of expectations, and the guidance for the year is heading higher by about 4-times the top-line beat in the quarter. ARR growth reaccelerated to nearly 25% year-on-year as average revenue per customer jumped 12.0% year-over-year, the best mark since 2022 and was up nearly $100 sequentially, KeyBanc adds.