Yext Inc (NYSE:YEXT) has topped revenue and earnings estimates for the first quarter by $1.64 million and $0.01 per share. Yext provides a platform that lets businesses manage their digital knowledge in the cloud and sync it to over 100 services.

Yext share price soared sharply since the start of this year, mainly due to its increasing revenues from all over the world. Combined with the new agreements, the company has also renewed its contracts with numerous large companies during the first quarter. These companies include Rite Aid, Volvo, University Health System, Wal-Mart and many more.

YEXT stock currently trades around $16 a share, up 43% since the start of this year. Its stock has the 52-week trading range of $10.58 – $17.14 – with the market capitalization of $1.6 billion.

Yext Revenue Growth is Impressive

The company’s revenue growth has been enhancing trader sentiment with its future fundamentals and share-price performance. Its revenue soared 37% in the first quarter from the year-ago period. The revenue growth is attributed to steady growth from existing customers and higher volume from new customers.

Licenses to Yext’s digital knowledge platform jumped 49%, while the attributes managed grew 53% compared to the past year period.

“We are pleased with our results this quarter, highlighted by our 38% revenue growth over the first quarter of last year – driven, in part, by the more than 60 new enterprise logos we won this quarter – as well as the positive operating cash flow we generated during the quarter,” said Howard Lerman, Co-Founder and Chief Executive Officer of Yext.

The company expects its fiscal 2019 revenue to stand around $227 million, substantially higher from revenue of $170 million in fiscal 2018.

>>Canopy Growth Has Even More Growth Ahead!

But Price Targets Show a Limited Upside

Analysts, however, are showing concerns over the higher share price valuations. The average price target from Wall Street analysts stands at around $16 a share – suggesting a limited upside from the current level. Its stock currently trades around 7 times to that of sales and 14 times to book value— sharply higher compared to the industry average of 2 times and 3 times, respectively.

Featured Image: twitter