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Fly News Breaks for December 6, 2019
Dec 6, 2019 | 07:55 EDT
Oppenheimer analyst Koji Ikeda lowered his price target for Yext to $21 from $26 after the company reported "soft" Q3 results and lowered guidance. In a research note to investors, the analyst notes that the weakness was sales execution-related, from disruption caused by the Answers launch and by ramping new sales capacity, which resulted in elongated sales cycles and pushed-out deals. Ikeda anticipates shares will be under pressure in the near-term, given the execution issues. Ikeda maintains an Outperform rating on the shares.
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