Why Yext Shares Are Diving Today?
Portfolio Pulse from Lekha Gupta
Yext Inc's shares are trading lower by around 12% despite reporting mixed Q2 FY24 earnings with a 2% Y/Y revenue growth to $102.6 million, beating the consensus of $101.97 million. The company also reported a 9% Y/Y increase in gross profit to $80.2 million and an adjusted EBITDA of $11.8 million, higher than $0.9 million a year ago. The company raised its FY24 outlook for Adjusted EPS to $0.29-$0.30 and revised revenue guidance to $405 million-$407 million.
September 07, 2023 | 11:24 am
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NEGATIVE IMPACT
Yext Inc's shares are down by 12% despite reporting positive Q2 FY24 earnings and raising its FY24 outlook. The company's board also increased the share repurchase program by $50.0 million.
Despite reporting positive Q2 FY24 earnings and raising its FY24 outlook, Yext Inc's shares are trading lower. This could be due to market factors or investor sentiment not reflected in the earnings report. The increase in the share repurchase program indicates the company's confidence in its stock, but this has not prevented the stock price from falling.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100