1 Year After Its IPO, Is Now the Time to Buy This Promising SaaS Company?
A relatively overlooked company called SEMrush Holdings (NYSE: SEMR) began trading publicly in late March 2021 and had the unfortunate problem of bad timing. Not long after the IPO, the broader market turned away from tech growth stocks and SEMrush's share price, which had risen as much as 250% going into September 2021, began a steep decline along with many other tech stocks. SEMrush stock now trades below its $14 IPO price.
Even though the stock is down, this online marketing tools specialist has put out strong financial results and executed well. SEMrush has beaten all analyst estimates for earnings in the four quarters it has reported as a public company, all while improving its top line substantially.
This software-as-a-service (SaaS) stock got sucked into the growth stock sell-off in 2021, creating a huge disparity between the stock's performance and the business' performance. That makes SEMrush Holdings a potentially great buying opportunity right now.
Source Fool.com
