Yext (NYSE:YEXT), a provider of cloud-based software that helps improve search data, saw its shares tumble on Thursday. The stock fell as much as 21.5%. However, shares finished the trading day down 12%.
The stock's decline was likely driven both by a bearish day in the overall market and the tech company's fiscal fourth-quarter earnings report.
Though Yext reported strong results for its fourth quarter of fiscal 2021, with revenue increasing 13% year over year, the company missed the mark on fiscal first-quarter revenue guidance. Management said it expected fiscal first-quarter revenue to be between $87 million and $89 million. Analysts, on average, were expecting revenue of $95 million for the period, according to figures compiled by Yahoo! Finance.
Meanwhile, a rough day in the market likely took a toll on shares. The Nasdaq Composite fell more than 2%.
For the full year of fiscal 2022, Yext expects growth over fiscal 2021. Management guided for revenue during the period of between $375 million and $380 million, easily ahead of fiscal 2021 revenue of $355 million.
The company expects its non-GAAP (adjusted) loss per share for fiscal 2021 to be between a loss of $0.17 and a loss of $0.22. Analysts were modeling for a loss of $0.19.