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Yext Tops 2Q, Shares Rise 4% In Pre-Market - TipRanks Financial Blog


Yext Tops 2Q, Shares Rise 4% In Pre-Market

Yext shares rose over 4% in pre-market session on Friday after delivering upbeat 2Q results. Its revenue of $88.1 million soared 22% year-over-year and also came ahead of analysts’ expectations of $85.2 million.

The software developer reported 2Q loss of $0.07 per share, but it was narrower than analysts’ loss expectations of $0.12 per share. The company posted a loss of $0.11 per share in the year-ago quarter.

Yext (YEXT) CEO Howard Lerman commented: “We had a solid second quarter, exceeding the high end of our revenue and EPS guidance, while also driving sales efficiencies.” The 2Q revenues were $2 million above the high end of its guidance range, while the $0.07 loss was a $0.04 beat to the high end of guidance.

For 3Q, the company expects revenue to be between $86 million and $88 million. It also anticipates adjusted loss per share between $0.07 and $0.09. (See YEXT stock analysis on TipRanks).

Just after its 2Q results, on Sept. 3, RBC Capital analyst Mark Mahaney reiterated his Buy rating while marginally reducing his price target from $22 to $21. He told investors: “Yext posted a solid quarter w/ Revenue, EBITDA, & Non-GAAP EPS all coming in better than RBC/Street. Revenue & Unearned Revenue growth rates decelerated modestly, with a FQ3 guide calling for deceleration mostly over macro concerns and tougher comps.”

Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 1 Hold and 1 Sell. The average price target of $19.56 implies upside potential of 11.6% to current levels. Shares were up by 21.6% year-to-date.

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Amit Singh
Amit Singh has over eight years of strong experience (both sell-side and buy-side) in analyzing financial reports and filings as well as identifying strategic investment opportunities. Over the years, Amit has covered various industries and geographies, with a primary focus on consumer staples and the consumer discretionary sector. Amit’s background spans evaluating company portfolios, building complex financial models, writing financial articles, and identifying the overall financial worth of companies. He has a post-graduate diploma in finance.

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