Yext (NYSE:YEXT) Announces Quarterly Earnings Results

Yext (NYSE:YEXT) issued its earnings results on Tuesday. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04, FiscalAI reports. The business had revenue of $111.10 million during the quarter, compared to analysts’ expectations of $111.30 million. Yext had a return on equity of 43.47% and a net margin of 8.93%.

Yext Trading Down 1.9%

Shares of Yext stock opened at $6.78 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 6.03. Yext has a twelve month low of $3.27 and a twelve month high of $9.20. The firm has a market capitalization of $679.70 million, a PE ratio of 96.86 and a beta of 1.13. The firm’s 50-day moving average price is $5.50 and its 200 day moving average price is $4.76.

Insider Activity

In related news, Director Seth H. Waugh purchased 133,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $3.75 per share, with a total value of $498,750.00. Following the completion of the acquisition, the director owned 319,411 shares in the company, valued at $1,197,791.25. This trade represents a 71.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel J. Englander acquired 76,190 shares of the stock in a transaction on Monday, July 13th. The shares were bought at an average cost of $5.22 per share, for a total transaction of $397,711.80. Following the purchase, the director directly owned 141,190 shares of the company’s stock, valued at $737,011.80. The trade was a 117.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Yext

Hedge funds have recently modified their holdings of the company. Lynrock Lake LP raised its stake in shares of Yext by 23.3% in the fourth quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after acquiring an additional 2,861,653 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Yext by 126.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock worth $23,797,000 after acquiring an additional 1,647,174 shares during the period. First Trust Advisors LP purchased a new position in Yext in the 4th quarter valued at approximately $5,634,000. Millennium Management LLC acquired a new position in Yext during the first quarter worth $3,964,000. Finally, Qube Research & Technologies Ltd raised its holdings in Yext by 97.1% during the second quarter. Qube Research & Technologies Ltd now owns 957,958 shares of the company’s stock worth $8,143,000 after purchasing an additional 472,000 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

YEXT has been the subject of several research reports. Zacks Research cut shares of Yext from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings raised Yext from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.67.

About Yext

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.