Why Similarweb Stock Is Plummeting Today
Similarweb (NYSE: SMWB) stock is heading lower in Wednesday's trading. The company's share price was down 8.7% as of 11:30 a.m. ET, and had been down as much as 16.9% earlier in the session.
Similarweb published its third-quarter results after yesterday's market close, reporting earnings that topped Wall Street's forecast but sales that came in short of expectations. The company also reiterated its full-year sales guidance and raised its non-GAAP (generally accepted accounting principles) adjusted operating profit forecast, but that hasn't been enough to prevent sell-offs.
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Source Fool.com
