Yesext (YEXT) ended the last trading session up 17.6% to $ 14.47. The jump came in at an impressive volume with an above-average number of stocks changing hands during the session. This compares to the stock’s 12.8% loss over the past four weeks.
The stock saw the price increase in response to the company’s better-than-expected results in the first quarter of fiscal 2022. The quarterly loss of 2 cents per share is higher than Zacks’ consensus estimate of a loss. of 6 cents. Revenues of $ 92 million exceeded the consensus bar of 3.9%.
Price and consensus
This software developer is expected to post a quarterly loss of $ 0.05 per share in its next report, which represents a year-over-year change of + 28.6%. Revenue is expected to reach $ 92.97 million, up 5.6% from the previous year quarter.
While earnings and income growth expectations are important in assessing a stock’s potential strength, empirical research shows a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For Yext, the consensus estimate of EPS for the quarter has remained unchanged over the past 30 days. And the price of a stock usually does not continue to rise if there is no trend in revisions to earnings estimates. So be sure to keep an eye on YEXT to see if that recent leap can turn into more force on the road.
The stock currently carries a rank 3 of Zacks (Hold). You can see the full list of today’s Zacks Rank # 1 (strong buy) stocks here >>>>
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.