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Tech company Yext could have a public offering in the next few weeks, and one question we've continually received from our readers is "What is the Yext stock symbol?"
Conveniently, the Yext stock symbol is "YEXT" and will trade on the New York Stock Exchange. On the official YEXT IPO date, investors can purchase stock under the listing Yext (NYSE: YEXT).
Even though Yext is one of the biggest tech IPOs of the year, a lot of investors haven't heard of the digital knowledge company.
That's why Money Morning will provide you with everything you need to know. Here's the most important details to know before the Yext IPO…
What to Know Before the Yext IPO Date
Yext uses its Yext Knowledge Engine to help businesses check the accuracy of their information (store hours, locations, deals, and promotions). It then offers solutions to improve accuracy and make websites easier to find online via search engine optimization (SEO), social networks, GPS systems, and digital assistants.
Why does that matter?
Because information displayed online isn't always accurate. The individual website might be wrong. The hours it's open could be misstated and the address could be old.
Any or all of these pieces of inaccurate information could end up costing customers.
And because of Yext's expertise in improving online information, it's built an impressive client base, including:
- Ben & Jerry's
- Marriot International
- Pep Boys
- Rue 21
- Stanley Steemer
And as the client base has grown, so has Yext's revenue…
Yext Increases Revenue by 49.5% Ahead of IPO
The tech company increased revenue from $60 million in 2015 to $89.7 million in 2016, which is an increase of 49.5%.
Right now, Yext isn't profitable. It reported net losses of $17.3 million in 2015 and $26.5 million in 2016.
That means losses for the company increased by 53% in just one year.
Now, we understand the reason investors want to own IPOs: It's a way to seemingly get in on a stock "early" that could provide massive returns.
How Yext Works
For example, the Facebook Inc. (Nasdaq: FB) share price opened at $42.05 per share on its May 18, 2012, IPO. From today's opening price of $141.93, that's a potential profit of 237.36%.
However, not every IPO will provide triple-digit returns…
On the Twitter Inc. (NYSE: TWTR) Nov. 7, 2013, IPO date, TWTR stock opened at $45.10 per share. From today's opening price of $14.75, early investors have watched the value of their shares fall more than 67%.
For every successful IPO like Facebook, there will always be one like TWTR that lets investors down.
That's why Money Morning Director of Tech & Venture Capital Research Michael A. Robinson has a better way to profit from IPOs than by directly investing in a new company.
You see, Robinson's strategy allows investors to reap the rewards of successful IPOs and limit downside through a diversified investment.
Here's the investing strategy you have to know about before the YEXT IPO…