Stock up 7% after acquiring social app for financial services and insurance industries

  • Yext shares rise after acquisition leads to revenue guidance increase
  • Acquisition of Hearsay expected to boost top line in the second half of the year
  • Revenue for fiscal Q2 fell 4.6% to $97.9 million
  • Adjusted earnings of 5 cents a share beat analyst projections by 2 cents

Yext’s shares climbed after the company raised its full-year revenue guidance following the acquisition of Hearsay, a social application for the financial services and insurance sectors. The stock was up 7% at $5.27 in early trading. Despite an underperforming fiscal Q2 with revenue falling 4.6% to $97.9 million, Yext’s adjusted earnings of 5 cents a share beat analyst projections by 2 cents. The company now expects $420 million to $421 million in revenue for the year, compared to its previous outlook of $394 million to $396 million.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Yext’s acquisition, its impact on revenue guidance, and financial performance. It includes relevant details about the company’s financial results and compares them with analyst forecasts.
Noise Level: 3
Noise Justification: The article provides relevant information about the company’s financial performance and an acquisition, but it lacks in-depth analysis or exploration of long-term trends or consequences for stakeholders.
Public Companies: Yext (YEXT)
Private Companies: Hearsay
Key People:

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Financial Relevance: Yes
Financial Markets Impacted: Yext’s stock market and the company’s acquisition of Hearsay
Financial Rating Justification: The article discusses Yext’s financial performance, its stock price, and an acquisition that impacts the company’s revenue guidance. This makes it relevant to financial topics and has an impact on financial markets (Yext’s stock market) and companies (Hearsay).
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in the article.
Deal Size: The deal size is 0.
Move Size: The market move size mentioned in the article is 7%.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

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