Shares of Similarweb Ltd. surged 17% in after-hours trading on Tuesday after the digital intelligence company reported quarterly earnings that exceeded analyst expectations and raised its full-year guidance.
The company’s adjusted earnings per share (EPS) for the quarter came in above consensus estimates, while revenue also topped projections. Similarweb attributed the outperformance to sustained demand for its data analytics and market intelligence tools, particularly in enterprise and e-commerce sectors.
In addition to the earnings beat, management raised its full-year revenue and profitability guidance, citing robust pipeline activity and improved operational efficiency. The updated outlook reflects confidence in continued growth despite macroeconomic headwinds.
Analysts at Jefferies maintained a Buy rating on the stock, citing the company’s strong competitive positioning and recurring revenue model. The firm also noted that Similarweb’s guidance raise signals underlying demand remains resilient.
Similarweb, which went public via a SPAC merger in 2021, has faced volatility in recent quarters amid broader tech sector pullbacks. The latest results, however, suggest a stabilization in its business fundamentals.
The stock’s after-hours surge follows a broader trend of earnings-driven rallies in the tech sector, where companies with clear monetization paths and diversified revenue streams have outperformed peers amid market uncertainty.
Similarweb did not provide additional financial details beyond the earnings release and guidance update.
