Yext (YEXT) Soars 14.3%: Is Further Upside Left in the Stock?

Yext (YEXT) shares rallied 14.3% in the last trading session to close at $5.61. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 38% loss over the past four weeks.

The stock recorded this price increase as the company benefits from the inclusion of Hearsay’s revenues and its ability to provide competitive intelligence, benchmarking and AI-led insights enhanced from the Places Scout buyout.

This software developer is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $113.3 million, up 0.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Yext, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on YEXT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Yext belongs to the Zacks Technology Services industry. Another stock from the same industry, Bit Digital, Inc. (BTBT), closed the last trading session 3.9% lower at $1.74. Over the past month, BTBT has returned -20.3%.

For Bit Digital, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.02. This represents a change of +81.8% from what the company reported a year ago. Bit Digital currently has a Zacks Rank of #3 (Hold).

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