Marketing analytics software Semrush (NYSE:SEMR) will be reporting earnings tomorrow after market close. Here's what to look for.

SEMrush met analysts' revenue expectations last quarter, reporting revenues of $83.39 million, up 21.2% year on year. It was a weak quarter for the company, with decelerating customer growth and full-year revenue guidance missing analysts' expectations. It added 1,200 customers to reach a total of 108,000.

Is SEMrush a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting SEMrush's revenue to grow 20% year on year to $85.05 million, slowing from the 24.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SEMrush has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at SEMrush's peers in the sales and marketing software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Sprout Social delivered year-on-year revenue growth of 28.7%, meeting analysts' expectations, and VeriSign reported revenues up 5.5%, in line with consensus estimates. Sprout Social traded down 40.1% following the results while VeriSign was also down 4%.

Read our full analysis of Sprout Social's results here and VeriSign's results here.

Inflation fears have put pressure on growth stocks, and while some of the sales and marketing software stocks have fared somewhat better, they have not been spared, with share prices down 3.1% on average over the last month. SEMrush is down 7% during the same time and is heading into earnings with an average analyst price target of $14 (compared to the current share price of $12.53).

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