Yahoo Finance Semrush (SEMR) to Report Q1 Earnings: What's in the Cards?
Semrush Holdings SEMR is set to release its first-quarter 2024 results on May 6.
The company expects net sales to be $84.7-$85.3 billion for the to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is currently pegged at 4 cents per share, down by a penny over the past 30 days and suggests 180% year-over-year growth.
The consensus estimate for revenues is pegged at $85.1 million, suggesting growth of 20.07% year over year.
SEMR’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and were in line in the remaining one, delivering an earnings surprise of 154.17%, on average.
SEMrush Holdings, Inc. Price and EPS Surprise
SEMrush Holdings, Inc. price-eps-surprise | SEMrush Holdings, Inc. Quote
Let’s see how things have shaped up for the company prior to this announcement:
Factors to Note
Semrush’s first-quarter 2024 performance is likely to have benefited from its focus on increasing new user growth. It has roughly 108,000 paying customers within its core platform at the end of the fourth quarter of 2023.
The company’s growing cross-selling and upselling strategies to maximize the value generated from its users are expected to have aided its top-line growth in the to-be-reported quarter.
Furthermore, Semrush is making progress in diversifying its product portfolio by adding new products. This is expected to have benefited top-line growth and recurring revenues in the first quarter.
Growing initiatives and developments of its digital marketing tools to enable business growth, customer satisfaction and product innovation are likely to have driven top-line growth.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Semrush has an Earnings ESP of 0.00% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Arista Networks ANET has an Earnings ESP of +2.49% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks’ shares have gained 8.9% year to date. ANET is set to report its first-quarter 2024 results on May 7.
Bumble BMBL has an Earnings ESP of +54.00% and a Zacks Rank #2.
Bumble’s shares have declined 31.5% year to date. BMBL is scheduled to release first-quarter 2024 results on May 8.
Silicon Motion Technology SIMO has an Earnings ESP of +5.96% and a Zacks Rank #2.
Silicon Motion’s shares have gained 20.5% year to date. SIMO is scheduled to release first-quarter 2024 results on May 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Arista Networks, Inc. (ANET) : Free Stock Analysis Report
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SEMrush Holdings, Inc. (SEMR) : Free Stock Analysis Report
