Semrush Holdings falls on downbeat forecast

Semrush Holdings

05/03/2024 11:50

** Shares of SaaS platform provider Semrush Holdings
 SEMR.N  fall 15.4% to $11 premarket
    ** Co forecasts Q1 revenue between $84.7 mln and $85.3 mln,
below Wall Street estimates of $86.3 mln - LSEG data  
    ** For FY24, co sees revenue between $364 mln and $368 mln;
short of estimates of $368.8 mln
    ** Co posts Q4 revenue of $83.4 mln, up 21% year-over-year
    ** Three of six brokerages rate the stock "buy" or higher,
three "hold"; their median PT is $13.50 - LSEG
    ** Up to Monday's close, stock had fallen 4.8% YTD vs a near
68% increase in 2023

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))