Semrush price target lowered to $16 from $18 at KeyBanc

KeyBanc lowered the firm’s price target on Semrush (SEMR) to $16 from $18 and keeps an Overweight rating on the shares. The firm says the quarter was fine, it wasn’t great, but with shares indicated down over 15% at points during the evening, it now is “an exercise in explaining why it wasn’t that bad.” Brand new CEO, Bill Wagner, may have his work cut out for him on the earnings call, KeyBanc adds.