Yext (NYSE:YEXT) Shares Gap Down Following Weak Earnings

Yext, Inc. (NYSE:YEXT)’s stock price gapped down before the market opened on Thursday following a dissappointing 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 company had revenue of $113.09 million during the quarter, compared to analysts’ expectations of $112.77 million. Yext had a negative net margin of 4.64% and a negative return on equity of 11.10%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Yext

A number of hedge funds and other institutional investors have recently bought and sold shares of YEXT. Wilmington Savings Fund Society FSB purchased a new position in Yext in the third quarter valued at about $38,000. KBC Group NV acquired a new stake in shares of Yext during the fourth quarter worth $47,000. O Shaughnessy Asset Management LLC purchased a new position in Yext during the fourth quarter worth about $64,000. EntryPoint Capital LLC purchased a new stake in Yext in the 4th quarter valued at about $67,000. Finally, Virtu Financial LLC purchased a new position in shares of Yext during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Price Performance

The stock has a market cap of $791.89 million, a price-to-earnings ratio of -41.43 and a beta of 1.34. The firm’s 50-day moving average is $6.52 and its 200 day moving average is $6.73.

Yext Company Profile

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.