Why did Yext Inc. (YEXT) stock popup in the after-hours on Wednesday?

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YEXT Stock
YEXT Stock

Yext Inc. (YEXT) shares soared 7.01% in after-hours on Wednesday, December 29, 2021, and closed the daily trading at $10.83. However, in the regular trading session, YEXT’s stock lost 1.84%. YEXT shares have fallen 36.51% over the last 12 months, and they have moved down 3.98% in the past week. Over the past three months, the stock has lost 15.24%, while over the past six months, it has plunged 29.18%.

Let’s briefly discuss its recent news.


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YEXT won several awards

On December 20, 2021, Yext, Inc. (YEXT), was honored with several accolades recognizing its innovative AI search platform, leadership, and workplace. The company was recognized as Best-Led Company by Inc., Best Use of Artificial Intelligence by the Drum B2B Awards, Best Overall Software as a Service (SaaS) in Marketing by the APPEALIE Awards, Best Workplace for Parents by Great Place to Work® and Top Workplace for the Next Generation of Talent by Ripplematch.

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YEXT new platform features

On December 15, 2021, Yext, Inc. (YEXT), announced the availability of new platform features in its Winter ’21 Release, including consumer authorization, updates to its Listings solution and data connectors framework, and powerful developer tools.

The new features such as Listings Modernization, Consumer Authorization, Connector Updates, etc will provide customers more ways to efficiently and effectively unify their data, publish it to listings across the Internet, and create their own modern search experiences.

YEXT latest financial results

On December 2, 2021, Yext, Inc. announced its financial results for the third quarter of fiscal 2022, which ended on October 31, 2021.

Q3 2022 financial highlights

  • YEXT reported total revenue of $99.5 million in Q3 2022, compared to $89.1 million reported in the third quarter fiscal 2021.
  • The cost of revenue was $25.25 million in Q3 2022 compared to $21.64 million in Q3 2021.
  • In Q3 2022, gross profit was $74.3 million compared to $67.4 million reported in the third quarter fiscal 2021.
  • Total operating expenses were $98.63 million in Q3 2022 compared to $89.18 million in Q3 2021.
  • It suffered a net loss of $24.93 million or net loss per share of $0.19 in Q3 2022 compared to a net loss of $22.04 million or net loss per share of $0.18 in Q3 2021.
  • The company ended Q3 2022 with cash and cash equivalents of $230 million compared to $129 million as of October 31, 2020.

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Conclusion

Well, we have no recent news to justify its after-market surge on Wednesday. Let’s see how it resume trading on Thursday?

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