Yext (NYSE:YEXT) Releases Q3 2023 Earnings Guidance

Yext (NYSE:YEXTGet Rating) issued an update on its third quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -$0.01-$0.01 for the period, compared to the consensus estimate of -$0.01. The company issued revenue guidance of $99.00 million-$100.00 million, compared to the consensus revenue estimate of $100.51 million. Yext also updated its FY 2023 guidance to -$0.08–$0.06 EPS.

Yext Price Performance

Shares of Yext stock opened at $4.65 on Thursday. Yext has a fifty-two week low of $4.00 and a fifty-two week high of $13.13. The firm has a fifty day moving average price of $4.61 and a two-hundred day moving average price of $5.32.

Yext (NYSE:YEXTGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Yext had a negative net margin of 23.46% and a negative return on equity of 50.82%. The firm had revenue of $100.90 million during the quarter, compared to the consensus estimate of $99.68 million. During the same period in the prior year, the firm earned ($0.22) EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that Yext will post -0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, General Counsel Ho Shin sold 20,000 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $4.97, for a total transaction of $99,400.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Yext

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Yext by 19.3% during the 2nd quarter. Bank of Montreal Can now owns 12,638 shares of the company’s stock worth $73,000 after purchasing an additional 2,047 shares in the last quarter. UBS Group AG increased its position in Yext by 50.1% in 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 in the last quarter. Point72 Hong Kong Ltd increased its position in Yext by 164.2% in 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 in the last quarter. MetLife Investment Management LLC increased its position in Yext by 40.5% in the 1st quarter. MetLife Investment Management LLC now owns 53,376 shares of the company’s stock valued at $368,000 after acquiring an additional 15,382 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Yext in the 1st quarter valued at about $122,000. Institutional investors and hedge funds own 68.47% of the company’s stock.

About Yext

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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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