Yext (NYSE:YEXT) Releases Q2 Earnings Guidance

Yext (NYSE:YEXTGet Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $(0.06)-$(0.05) for the period, compared to the consensus estimate of ($0.04). The company issued revenue guidance of $99.0-$100.0 million, compared to the consensus revenue estimate of $99.70 million.Yext also updated its FY23 guidance to $(0.12)-$(0.10) EPS.

YEXT stock traded up $0.10 during trading hours on Wednesday, hitting $5.42. 2,288,359 shares of the stock were exchanged, compared to its average volume of 2,282,082. The firm has a market capitalization of $711.03 million, a P/E ratio of -7.42 and a beta of 1.49. The company has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $7.50. Yext has a 12 month low of $4.26 and a 12 month high of $15.17.

Yext (NYSE:YEXTGet Rating) last posted its quarterly earnings data on Tuesday, March 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. The firm had revenue of $100.93 million for the quarter, compared to analysts’ expectations of $101.04 million. Yext had a negative return on equity of 43.14% and a negative net margin of 23.88%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) EPS. Equities research analysts anticipate that Yext will post -0.69 EPS for the current year.

YEXT has been the topic of several recent research reports. MKM Partners lowered their price objective on Yext from $17.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday, March 10th. DA Davidson lowered Yext from a buy rating to a neutral rating and reduced their target price for the stock from $16.50 to $5.25 in a report on Wednesday, March 9th. Zacks Investment Research lowered Yext from a buy rating to a hold rating in a report on Wednesday, March 16th. Needham & Company LLC lowered Yext from a buy rating to a hold rating in a report on Wednesday, March 9th. Finally, Truist Financial lowered Yext from a buy rating to a hold rating and reduced their target price for the stock from $17.00 to $6.00 in a report on Wednesday, March 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, Yext presently has a consensus rating of Hold and a consensus price target of $9.29.

In other Yext news, CAO Darryl Bond sold 7,971 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $6.58, for a total value of $52,449.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard Lerman sold 16,069 shares of the stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $6.58, for a total value of $105,734.02. The disclosure for this sale can be found here. Insiders sold 63,875 shares of company stock worth $420,298 over the last ninety days. 12.40% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Prelude Capital Management LLC raised its position in Yext by 327.9% in the first quarter. Prelude Capital Management LLC now owns 57,831 shares of the company’s stock valued at $398,000 after purchasing an additional 44,317 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Yext by 40.5% during the first quarter. MetLife Investment Management LLC now owns 53,376 shares of the company’s stock worth $368,000 after acquiring an additional 15,382 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Yext by 8.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 28,684 shares of the company’s stock worth $285,000 after acquiring an additional 2,119 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Yext during the first quarter worth about $249,000. Finally, HighTower Advisors LLC bought a new position in shares of Yext during the first quarter worth about $230,000. Hedge funds and other institutional investors own 61.35% of the company’s stock.

Yext Company Profile (Get Rating)

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to provide answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews, as well as provides customers to update their information and content through its knowledge network of approximately 200 maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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