Yext (NYSE:YEXT – Get Rating) announced its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01, Briefing.com reports. The company had revenue of $98.80 million for the quarter, compared to analyst estimates of $96.71 million. Yext had a negative return on equity of 43.14% and a negative net margin of 23.88%. Yext’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) EPS. Yext updated its Q2 guidance to $(0.06)-$(0.05) EPS and its FY23 guidance to $(0.12)-$(0.10) EPS.
YEXT traded up $0.46 during trading on Thursday, hitting $5.88. The company’s stock had a trading volume of 52,509 shares, compared to its average volume of 2,922,123. The firm’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $7.50. Yext has a 12 month low of $4.26 and a 12 month high of $15.17. The stock has a market capitalization of $771.40 million, a price-to-earnings ratio of -8.03 and a beta of 1.49.
YEXT has been the subject of several analyst reports. Zacks Investment Research downgraded Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, March 16th. MKM Partners cut their target price on Yext from $17.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, March 10th. DA Davidson downgraded Yext from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.50 to $5.25 in a research report on Wednesday, March 9th. Truist Financial downgraded Yext from a “buy” rating to a “hold” rating and cut their target price for the stock from $17.00 to $6.00 in a research report on Wednesday, March 9th. Finally, Needham & Company LLC downgraded Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, March 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.29.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Yext during the first quarter worth $75,000. Millennium Management LLC acquired a new stake in shares of Yext during the second quarter worth $171,000. Virtu Financial LLC acquired a new position in Yext in the first quarter valued at about $122,000. Schonfeld Strategic Advisors LLC acquired a new position in Yext in the fourth quarter valued at about $176,000. Finally, UBS Group AG grew its stake in Yext by 50.1% in the first 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. 61.35% of the stock is owned by institutional investors and hedge funds.
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.
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