An investigation on behalf of investors of Yext, Inc. (NYSE: YEXT) shares over potential securities laws violations by Yext, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Yext, Inc. (NYSE: YEXT) concerning whether a series of statements by Yext, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York, NY based Yext, Inc. provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally.

Yext, Inc. reported that its Total Revenue rose from $170.2 million for the 12 months period that ended on January 31, 2018 to $228.28 million for the 12 months period that ended on January 31, 2019.

On August 29, 2019, Yext, Inc. announced that it would launch Yext Answers (Answers) with the mission of Perfect Answers Everywhere. The Company also provided fiscal 2020 guidance, including expected revenue of $299 million to $301 million. On October 29, 2019, Yext launched Answers.

On December 5, 2019, after the market closed, Yext reported its third quarter 2020 financial results and reduced its fiscal 2020 guidance, expecting revenue between $296.5 million and $298.5 million. The Company indicated that the launch of Answers during the third quarter did delay our cycles.

Shares of Yext, Inc. (NYSE: YEXT) declined from $22.60 per share on July 26, 2019 to as low as $12.83 per share on December 06, 2019.