Yext (NYSE:YEXT) Given "Buy" Rating at Needham & Company LLC

Key Points

• Needham & Company LLC reaffirmed a "buy" rating for Yext (NYSE:YEXT) and set a target price of $10.00, indicating a potential upside of 10.31% from its current price.
• Shares of Yext increased by 12.1%, trading at $9.07, with a significant volume of 2,596,064 shares compared to its average of 819,717.
• Institutional investors own 70.98% of Yext stock, with notable increases in holdings by firms such as Pathstone Holdings LLC and Connor Clark & Lunn Investment Management Ltd.

Yext (NYSE:YEXT - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC's price objective would suggest a potential upside of 10.31% from the company's current price.

YEXT has been the subject of a number of other research reports. DA Davidson upped their price target on shares of Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a report on Thursday, June 5th. B. Riley upgraded Yext from a "neutral" rating to a "buy" rating and upped their price target for the company from $7.00 to $10.00 in a research report on Wednesday, June 4th.

Yext Stock Up 12.1%

Shares of YEXT stock traded up $0.98 during trading on Monday, reaching $9.07. The company's stock had a trading volume of 2,596,064 shares, compared to its average volume of 819,717. The business has a fifty day moving average price of $8.22 and a 200-day moving average price of $7.10. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -50.41 and a beta of 1.06. Yext has a one year low of $4.73 and a one year high of $9.16.

Institutional Trading of Yext

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC bought a new position in shares of Yext during the 4th quarter valued at approximately $13,026,000. Lynrock Lake LP grew its stake in Yext by 9.5% in the first quarter. Lynrock Lake LP now owns 11,680,363 shares of the company's stock worth $71,951,000 after purchasing an additional 1,009,285 shares during the period. Millennium Management LLC bought a new stake in shares of Yext in the 1st quarter worth approximately $3,964,000. The Manufacturers Life Insurance Company boosted its position in shares of Yext by 13.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,224,194 shares of the company's stock valued at $32,181,000 after buying an additional 614,960 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Yext by 57.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,629,919 shares of the company's stock valued at $13,854,000 after purchasing an additional 595,819 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

About Yext

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.

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