SEMR - Why Semrush Stock Got Hammered Today
2023-05-09 14:00:15 ET
Shares of Semrush Holdings (NYSE: SEMR) were getting hammered Tuesday after the online marketing software company reported its first-quarter results. As of 1:54 p.m. ET, Semrush stock was down 12.1%.
In Q1, Semrush generated revenue of $70.9 million, an increase of 24% compared to the same quarter of last year. That was slightly ahead of management's $70.3 million to $70.7 million guidance range. And it slightly exceeded analysts' consensus expectation as well.
Given those results, one can only attribute the session's price drop to management's guidance, though I believe there's reason for a little more optimism.
For further details see:
Why Semrush Stock Got Hammered Today