Yext (NYSE:YEXT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Yext (NYSE:YEXTGet Rating) announced its quarterly earnings data on Wednesday. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01, Briefing.com reports. Yext had a negative net margin of 25.53% and a negative return on equity of 47.31%. The business had revenue of $98.80 million during the quarter, compared to the consensus estimate of $96.71 million. During the same period in the previous year, the business earned ($0.14) earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Yext updated its Q2 guidance to $(0.06)-$(0.05) EPS and its FY23 guidance to $(0.12)-$(0.10) EPS.

Shares of NYSE YEXT opened at $5.67 on Friday. Yext has a 52-week low of $4.26 and a 52-week high of $15.17. The firm has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $7.47.

In other news, CRO Brian Distelburger sold 8,403 shares of the company’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $6.58, for a total value of $55,291.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Rudnitsky sold 11,638 shares of Yext stock in a transaction on Monday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $76,578.04. The disclosure for this sale can be found here. Insiders have sold 63,875 shares of company stock valued at $420,298 in the last ninety days. Insiders own 12.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Yext during the first quarter worth approximately $75,000. Virtu Financial LLC bought a new stake in shares of Yext in the 1st quarter valued at $122,000. UBS Group AG lifted its position in shares of Yext by 50.1% during the 1st quarter. UBS Group AG now owns 20,930 shares of the company’s stock valued at $144,000 after acquiring an additional 6,982 shares during the period. Point72 Hong Kong Ltd lifted its position in shares of Yext by 164.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 21,761 shares of the company’s stock valued at $150,000 after acquiring an additional 13,525 shares during the period. Finally, Millennium Management LLC bought a new position in Yext during the second quarter worth $171,000. 61.35% of the stock is owned by hedge funds and other institutional investors.

YEXT has been the subject of a number of research analyst reports. MKM Partners lowered their price target on Yext from $17.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 10th. Needham & Company LLC cut shares of Yext from a “buy” rating to a “hold” rating in a report on Wednesday, March 9th. Truist Financial lowered shares of Yext from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $6.00 in a report on Wednesday, March 9th. DA Davidson downgraded shares of Yext from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.50 to $5.25 in a research note on Wednesday, March 9th. Finally, Zacks Investment Research lowered shares of Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, March 16th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.29.

About Yext (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.

See Also

Earnings History for Yext (NYSE:YEXT)

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