DA Davidson Maintains Neutral Rating on Yext Following Mixed Quarterly Results

Yext Inc. (NYSE: YEXT) maintained a Neutral rating and $6 price target from DA Davidson following mixed fiscal fourth-quarter 2026 results.

The company reported revenue roughly 1% below expectations but slightly exceeded forecasts for adjusted EBITDA. Total annual recurring revenue reached $444 million and remained flat sequentially. Direct ARR declined by about $0.7 million quarter over quarter to $367.8 million.

The quarter marked Yext’s first earnings report since CEO and Chairman Michael Walrath withdrew his $9 per share proposal to take the company private on February 2.

The firm said the results largely reflected the company’s recent operating pattern of relatively flat revenue growth combined with disciplined expense management.

Going forward, Yext will report ARR and retention metrics based on customers generating above or below $50,000 in ARR, replacing its previous reporting structure that separated Direct and Third-Party ARR.

The company also announced changes to its investor communication approach following the failed buyout proposal. Yext will stop issuing forward financial guidance and suspend quarterly earnings conference calls as it prioritizes long-term product and investment cycles.

Instead, it will continue publishing detailed quarterly shareholder letters and plans to host periodic investor days or events.