Shares of Yext, Inc. (NYSE:YEXT) have earned a consensus rating of "Hold" from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.90.
A number of equities analysts have recently issued reports on YEXT shares. Morgan Stanley cut their target price on Yext from $13.00 to $12.00 and set an "underweight" rating for the company in a research note on Friday, September 3rd. Zacks Investment Research downgraded Yext from a "hold" rating to a "sell" rating in a research note on Thursday, September 9th. DA Davidson dropped their price objective on Yext from $18.00 to $16.50 and set a "buy" rating for the company in a research note on Friday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Yext in a research note on Friday, September 3rd.
In related news, COO Brian Distelburger sold 4,933 shares of the stock in a transaction on Monday, June 21st. The stock was sold at an average price of $13.79, for a total value of $68,026.07. Following the transaction, the chief operating officer now directly owns 3,056,296 shares of the company's stock, valued at approximately $42,146,321.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Darryl Bond sold 22,864 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $12.79, for a total value of $292,430.56. Following the completion of the transaction, the chief accounting officer now directly owns 18,231 shares in the company, valued at $233,174.49. The disclosure for this sale can be found here. Insiders have sold 80,737 shares of company stock worth $1,121,150 in the last 90 days. Insiders own 12.40% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its position in shares of Yext by 130.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 98,845 shares of the company's stock worth $1,412,000 after buying an additional 55,874 shares during the period. Marshall Wace LLP purchased a new position in Yext in the second quarter valued at about $8,299,000. Marshall Wace North America L.P. purchased a new position in Yext in the second quarter valued at about $6,401,000. Morgan Stanley raised its position in Yext by 228.9% in the second quarter. Morgan Stanley now owns 1,341,911 shares of the company's stock valued at $19,176,000 after purchasing an additional 933,914 shares during the period. Finally, Walleye Capital LLC raised its position in Yext by 132.5% in the second quarter. Walleye Capital LLC now owns 672,070 shares of the company's stock valued at $9,604,000 after purchasing an additional 383,010 shares during the period. 69.17% of the stock is currently owned by institutional investors and hedge funds.
YEXT opened at $12.44 on Wednesday. The company has a market cap of $1.59 billion, a PE ratio of -18.03 and a beta of 1.41. The business has a 50 day moving average price of $12.95 and a two-hundred day moving average price of $13.82. Yext has a 52 week low of $11.77 and a 52 week high of $20.23.
Yext (NYSE:YEXT) last issued its earnings results on Wednesday, September 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $98.12 million during the quarter, compared to the consensus estimate of $95.05 million. Yext had a negative return on equity of 40.48% and a negative net margin of 23.04%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. Analysts predict that Yext will post -0.8 earnings per share for the current fiscal year.
Yext Company Profile
Yext, Inc is an emerging growth company engages in software development. It offers a cloud-based digital knowledge platform, which allows businesses manage their digital knowledge in the cloud such as financial information, resources and performance of these resources on a consolidated basis and sync it to other application such as Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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