SEMrush Holdings, Inc. (SEMR) saw its stock price plummet 5.13% during Thursday's trading session following the release of its third-quarter earnings report. The digital marketing software company's results fell short of analyst expectations, disappointing investors and triggering a sell-off.

According to the earnings summary, SEMrush reported quarterly adjusted earnings of 7 cents per share for the quarter ended September 30, missing the mean expectation of 8 cents per share from six analysts. While this represents an improvement from the 5 cents per share reported in the same quarter last year, it wasn't enough to meet market expectations. The company's revenue rose 15.1% to $112.08 million, slightly above the anticipated $111.65 million. Despite the revenue growth, SEMrush reported a quarterly loss of $2.14 million.

The earnings miss comes at a challenging time for SEMrush, whose shares have already lost 36.8% of their value year-to-date. However, analysts remain optimistic about the company's prospects, with the current average rating on the shares being "buy". Wall Street's median 12-month price target for SEMrush Holdings Inc is $11.00, approximately 31.7% above its last closing price of $7.51. This indicates that despite the current setback, analysts see potential for recovery and growth in the coming year.