Needham analyst Ryan MacDonald reiterated a Hold onYext, IncYEXT.
He had a chance to meet with Yext CEO Michael Walrath and CFO Darryl Bond over two days.
During his meetings, management emphasized the cultural change proliferating throughout the organization and how it favors operational efficiency over growth at all costs dynamic.
While this change is often easier said than done, he was impressed with the organizational changes in the go-to-market and customer success areas.
He views this as an essential step for the company in stabilizing the base in late FY23 while setting itself up for success in FY24.
While he views these efforts as encouraging, he awaits quantifiable signs that Yext’s organizational improvements result in a durable fundamental improvement.
Price Action: YEXT shares traded higher by 1.60% at $4.75 on the last check Friday.
