Yext (NYSE:YEXT) Announces Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Yext reported earnings per share of $0.03, falling short of analysts' expectations by $0.09.
• Despite the earnings miss, hedge funds have been actively buying and selling Yext shares, indicating strong institutional interest, with 70.98% of the company's stock owned by such entities.
• Analysts have issued mixed ratings on Yext, with three ratings as "Buy" and two as "Hold," while the consensus target price is $9.44.

Yext (NYSE:YEXT - Get Free Report) announced its earnings results on Monday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.09), Zacks reports. Yext had a return on equity of 4.90% and a net margin of 1.66%.The firm had revenue of $113.09 million for the quarter, compared to the consensus estimate of $111.24 million. During the same period in the previous year, the firm earned $0.05 EPS. Yext's revenue for the quarter was up 15.5% on a year-over-year basis.

Yext Trading Down 0.3%

NYSE YEXT traded down $0.03 on Friday, hitting $8.66. 1,165,874 shares of the stock were exchanged, compared to its average volume of 1,318,806. Yext has a 52-week low of $5.51 and a 52-week high of $9.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 0.75. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -72.16 and a beta of 1.01. The company's 50-day moving average price is $8.45 and its two-hundred day moving average price is $7.41.

Hedge Funds Weigh In On Yext

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Yext by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,595,447 shares of the company's stock valued at $47,561,000 after acquiring an additional 371,253 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Yext by 97.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 957,958 shares of the company's stock valued at $8,143,000 after acquiring an additional 472,000 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Yext during the 1st quarter valued at $3,964,000. Bank of America Corp DE grew its holdings in shares of Yext by 68.8% during the 2nd quarter. Bank of America Corp DE now owns 514,021 shares of the company's stock valued at $4,369,000 after acquiring an additional 209,485 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Yext by 1.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 427,240 shares of the company's stock valued at $3,632,000 after acquiring an additional 6,289 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

YEXT has been the topic of several research reports. Zacks Research cut Yext from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. B. Riley raised Yext from a "neutral" rating to a "buy" rating and upped their price target for the company from $7.00 to $10.00 in a report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Yext in a report on Monday, August 18th. Wall Street Zen raised Yext from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, DA Davidson upped their price target on Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a report on Thursday, June 5th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $9.44.

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.