Investor Alert: Kaplan Fox Investigates Yext, Inc.

NEW YORK, Dec. 9, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of Yext, Inc. ("Yext" or the "Company") (NYSE: YEXT), a Search Experience Cloud company.

On August 29, 2019, Yext reported Second Quarter Fiscal 2020 results for the three months ending July 31, 2019.  Among other things, the Company said it would be launching Yext Answers ("Answers") with the mission of "Perfect Answers Everywhere."  The Company also provided its financial outlook for the Full Year Fiscal 2020, including projected revenue of $299 million to $301 million.

On October 29, 2019, Yext announced the launch of Answers and said, "[t]his launch is the latest step furthering Yext's mission to deliver perfect answers everywhere."

On December 5, 2019, after the market closed, Yext reported its Third Quarter Fiscal 2020 results for the three months ended October 31, 2019, which included lower projected revenue for the Full Year Fiscal 2020 in the range of $296.5 million to $298.5 million.  Among other things, the Company indicated that the launch of Answers during the third quarter, "did delay our deal cycles."  Additionally, CEO Howard Lerman further explained that, "any time you launch a new product it's going to be a little bit disruptive," and that the launch had, "slowed the deal cycles down a little bit for upsells, for new customers."

Following the news, Yext's common stock fell about $2.34 per share, more than 14%, to close at $14.26 per share on December 6, 2019.

If you purchased Yext's common stock and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about your rights or interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP