Yext (NYSE:YEXT) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Yext from a "strong-buy" rating to a "hold" rating, impacting investor sentiment.
• Despite the downgrade, analysts from B. Riley and Needham & Company maintained a "buy" rating with higher price targets, reflecting mixed views on the stock.
• Yext shares have shown stability, currently priced at approximately $8.97 with a market cap of $1.10 billion.

Yext (NYSE:YEXT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday, August 21st,Zacks.com reports.

A number of other research analysts have also recently weighed in on YEXT. DA Davidson lifted their target price on Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a report on Thursday, June 5th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 target price on shares of Yext in a report on Monday, August 18th. Finally, B. Riley upgraded Yext from a "neutral" rating to a "buy" rating and lifted their target price for the company from $7.00 to $10.00 in a report on Wednesday, June 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.44.

Yext Stock Down 0.4%

Shares of NYSE:YEXT traded down $0.04 during midday trading on Thursday, reaching $9.09. The company's stock had a trading volume of 345,338 shares, compared to its average volume of 853,727. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -50.40 and a beta of 1.06. Yext has a 1 year low of $4.73 and a 1 year high of $9.20. The business has a 50 day moving average price of $8.30 and a 200 day moving average price of $7.22.

Institutional Trading of Yext

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pathstone Holdings LLC bought a new position in shares of Yext during the fourth quarter valued at approximately $13,026,000. Lynrock Lake LP grew its holdings in Yext by 9.5% in the 1st quarter. Lynrock Lake LP now owns 11,680,363 shares of the company's stock worth $71,951,000 after buying an additional 1,009,285 shares in the last quarter. Millennium Management LLC bought a new position in Yext in the 1st quarter worth approximately $3,964,000. The Manufacturers Life Insurance Company grew its holdings in Yext by 13.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,224,194 shares of the company's stock worth $32,181,000 after buying an additional 614,960 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Yext by 57.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,629,919 shares of the company's stock worth $13,854,000 after buying an additional 595,819 shares in 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.