Yext Inc.'s stock plummeted around 16.61% in the pre-market session on Tuesday, as the search-software company provided lower-than-expected guidance for the upcoming fourth quarter.

For the fiscal fourth quarter, Yext forecasted revenue between $112.4 million and $112.9 million, as well as adjusted earnings per share in the range of $0.12 to $0.13. These projections fell short of Wall Street analysts' expectations, which had called for revenue of $113.5 million and adjusted EPS of $0.14.

While Yext reported fiscal third-quarter results that matched analyst estimates, the disappointing fourth-quarter guidance overshadowed the otherwise in-line performance. This guidance miss sparked concerns among investors, leading to the steep pre-market sell-off in the company's shares.