Yext drops after Q1 results miss estimates

Yext

11/06/2024 10:22

** Shares of data management company Yext  YEXT.N  fall
17.6% to $4.15 premarket
    ** Company reports Q1 revenue of $95.9 mln below analysts'
estimate of $96.3 mln - LSEG data
    ** Posts quarterly adj. earnings of 5 cents/shr, missing
analysts' expectations of 6 cents
    ** Forecasts FY25 revenue between $394 mln and $396 mln,
also below estimate of $400 mln - LSEG data
    ** Sees FY adj. EPS in range of 35 cents-36 cents versus
estimates of 35 cents
    ** YEXT also announced a proposed deal to acquire Hearsay
Systems for $125 mln and up to an additional $95 mln if certain
performance targets are achieved
    ** Acquisition with Hearsay "brings integration into any CRM
system, including a strong alliance with Salesforce" so
customers "can sync activities and contacts" with Salesforce's
 CRM.N  systems to track all client interactions, says YEXT CEO
Michael Walrath
    ** As of last close, YEXT stock had fallen 14.43% YTD 

 (Reporting by Nikhil Sharma in Bengaluru)
 ((nikhil.sharma@thomsonreuters.com))