While Q3 earnings strayed away from the company's historical beat and raise pattern, Yext (YEXT) saw their stock go down ~17% immediately following earnings. The initial reaction seemed a little aggressive as the stock has recovered over the past few weeks, now down only ~10% since reporting earnings. Valuation has also pulled back over the past few weeks and at ~3.8x FY21 revenue, there are not too many software names growing revenue 30%+ that trade this low.
Q3 revenue came in at the high-end of management's expectations and while above consensus expectations, investors