Yext (NYSE:YEXT) Shares Gap Down After Earnings Miss

Yext, Inc. (NYSE:YEXT - Get Free Report) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $6.56, but opened at $5.85. Yext shares last traded at $6.21, with a volume of 210,650 shares trading hands.

The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.20). The firm had revenue of $113.09 million during the quarter, compared to the consensus estimate of $112.77 million. Yext had a negative return on equity of 11.10% and a negative net margin of 4.64%.

Analyst Ratings Changes

Several brokerages have recently commented on YEXT. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Yext in a research report on Thursday. Roth Mkm reissued a "buy" rating and issued a $9.50 price target (down from $10.50) on shares of Yext in a report on Wednesday, February 26th. Finally, DA Davidson upped their price target on Yext from $5.75 to $7.50 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th.

Institutional Trading of Yext

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Yext by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 15,865,674 shares of the company's stock valued at $100,906,000 after purchasing an additional 204,329 shares in the last quarter. Potrero Capital Research LLC boosted its holdings in shares of Yext by 36.0% in the 3rd quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company's stock worth $23,559,000 after purchasing an additional 900,975 shares during the period. Tenzing Global Management LLC boosted its holdings in shares of Yext by 20.8% in the 4th quarter. Tenzing Global Management LLC now owns 2,537,500 shares of the company's stock worth $16,138,000 after purchasing an additional 437,500 shares during the period. Geode Capital Management LLC increased its position in shares of Yext by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,412,319 shares of the company's stock valued at $15,347,000 after purchasing an additional 27,452 shares during the last quarter. Finally, Pathstone Holdings LLC purchased a new stake in Yext during the 4th quarter valued at $13,026,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

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Yext Price Performance

The business has a 50-day moving average of $6.52 and a 200-day moving average of $6.73. The company has a market capitalization of $795.72 million, a P/E ratio of -41.57 and a beta of 1.34.

About Yext

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 offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.