Yext (NYSE:YEXT) Releases FY 2023 Earnings Guidance

Yext (NYSE:YEXTGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -$0.08–$0.06 for the period, compared to the consensus estimate of -$0.12. The company issued revenue guidance of $399.40 million-$401.40 million, compared to the consensus revenue estimate of $401.95 million. Yext also updated its Q3 2023 guidance to -$0.01-$0.01 EPS.

Yext Stock Performance

NYSE:YEXT traded down $0.07 during mid-day trading on Friday, hitting $4.42. 6,003 shares of the stock were exchanged, compared to its average volume of 1,402,641. The stock has a market capitalization of $545.60 million, a price-to-earnings ratio of -6.05 and a beta of 1.29. The firm’s 50-day simple moving average is $4.61 and its 200 day simple moving average is $5.31. Yext has a fifty-two week low of $4.00 and a fifty-two week high of $13.13.

Yext (NYSE:YEXTGet Rating) last posted its quarterly earnings data on Wednesday, September 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Yext had a negative return on equity of 50.82% and a negative net margin of 23.46%. The firm had revenue of $100.90 million for the quarter, compared to analyst estimates of $99.68 million. During the same quarter last year, the company earned ($0.22) EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Yext will post -0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. DA Davidson set a $6.00 price objective on Yext in a research note on Monday, June 20th. MKM Partners decreased their price target on Yext from $8.00 to $6.00 and set a neutral rating on the stock in a research note on Thursday, September 8th.

Insider Activity

In other news, General Counsel Ho Shin sold 20,000 shares of Yext stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $4.97, for a total value of $99,400.00. Following the transaction, the general counsel now owns 47,992 shares in the company, valued at approximately $238,520.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Yext

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Yext by 17.1% during the 1st quarter. Vanguard Group Inc. now owns 13,086,232 shares of the company’s stock worth $90,165,000 after acquiring an additional 1,909,294 shares during the last quarter. BlackRock Inc. lifted its holdings in Yext by 5.5% during the 1st quarter. BlackRock Inc. now owns 11,289,862 shares of the company’s stock worth $77,787,000 after buying an additional 589,806 shares during the period. Millennium Management LLC lifted its holdings in Yext by 2.0% during the 2nd quarter. Millennium Management LLC now owns 3,427,121 shares of the company’s stock worth $16,382,000 after buying an additional 66,408 shares during the period. State Street Corp lifted its holdings in Yext by 1.5% during the 1st quarter. State Street Corp now owns 2,647,424 shares of the company’s stock worth $18,241,000 after buying an additional 38,920 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Yext by 2.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,699,111 shares of the company’s stock worth $8,122,000 after buying an additional 46,567 shares during the period. Institutional investors own 68.47% of the company’s stock.

Yext Company Profile

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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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