Yext (NYSE:YEXT) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $20.00 price objective on the stock. Zacks Investment Research's price target would indicate a potential upside of 12.68% from the company's current price.
According to Zacks, "Yext, Inc. provides digital media technology services. It offers advertising, monetization, phone and directory services which includes business listings on search sites and real-time reputation management. The Company provides Yext Knowledge Engine. It serves healthcare and pharmaceuticals, retail, financial services, manufacturing and technology industries. Yext, Inc. is based in New York. "
YEXT has been the subject of several other research reports. Oppenheimer reaffirmed a "buy" rating and set a $21.00 target price on shares of Yext in a research report on Wednesday. William Blair initiated coverage on Yext in a research report on Tuesday, June 23rd. They set an "outperform" rating for the company. Morgan Stanley upped their target price on Yext from $12.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday, September 4th. Needham & Company LLC upped their target price on Yext from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, DA Davidson upped their target price on Yext from $18.50 to $22.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of "Buy" and a consensus target price of $19.60.
NYSE:YEXT traded down $0.23 on Friday, hitting $17.75. 916,817 shares of the company's stock traded hands, compared to its average volume of 1,054,248. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. Yext has a 1 year low of $8.56 and a 1 year high of $20.90. The firm has a 50-day moving average price of $16.40 and a 200-day moving average price of $15.40. The company has a market cap of $2.12 billion, a PE ratio of -15.99 and a beta of 1.59.
Yext (NYSE:YEXT) last announced its quarterly earnings results on Thursday, September 3rd. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.12) by $0.05. The business had revenue of $88.06 million during the quarter, compared to analysts' expectations of $85.14 million. Yext had a negative return on equity of 63.74% and a negative net margin of 38.54%. The firm's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS. On average, research analysts forecast that Yext will post -0.89 EPS for the current fiscal year.
In other Yext news, CFO Steven Cakebread sold 10,000 shares of the company's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $16.54, for a total value of $165,400.00. Following the sale, the chief financial officer now directly owns 38,565 shares in the company, valued at $637,865.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc Ferrentino sold 5,000 shares of the company's stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $15.04, for a total value of $75,200.00. Following the completion of the sale, the insider now owns 23,734 shares in the company, valued at $356,959.36. The disclosure for this sale can be found here. Insiders sold 399,740 shares of company stock valued at $6,610,056 over the last 90 days. 14.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in YEXT. FMR LLC grew its holdings in shares of Yext by 25.1% during the second quarter. FMR LLC now owns 5,269,645 shares of the company's stock worth $87,528,000 after purchasing an additional 1,058,394 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Yext by 10.7% in the second quarter. Vanguard Group Inc. now owns 9,022,308 shares of the company's stock valued at $149,860,000 after acquiring an additional 872,904 shares during the last quarter. Man Group plc bought a new position in Yext in the second quarter valued at about $7,993,000. Bank of New York Mellon Corp boosted its holdings in Yext by 81.0% in the second quarter. Bank of New York Mellon Corp now owns 747,261 shares of the company's stock valued at $12,412,000 after acquiring an additional 334,490 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Yext by 3.3% in the first quarter. Capital World Investors now owns 9,517,832 shares of the company's stock valued at $96,987,000 after acquiring an additional 303,356 shares during the last quarter. Institutional investors own 70.61% of the company's stock.
Yext Company Profile
Yext, Inc, a search experience cloud company, engages in delivering brand-verified answers that puts businesses in control of their facts online. Its Yext platform lets businesses structure the facts about their brands in a database called a Knowledge Graph. The Yext platform leverages the structured data stored in the Knowledge Graph to power direct answers on a business' own website, as well as across its Knowledge Network of approximately 175 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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