Yext (NYSE:YEXT) Posts Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Yext reported earnings per share of $0.03, falling short of analysts' expectations by $0.09.
• Despite the earnings miss, hedge funds have been actively buying and selling Yext shares, indicating strong institutional interest, with 70.98% of the company's stock owned by such entities.
• Analysts have issued mixed ratings on Yext, with three ratings as "Buy" and two as "Hold," while the consensus target price is $9.44.

Yext (NYSE:YEXT - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.09), Zacks reports. Yext had a negative return on equity of 14.07% and a negative net margin of 5.38%.

Yext Trading Down 1.6%

Shares of YEXT stock traded down $0.15 during mid-day trading on Monday, reaching $8.81. The stock had a trading volume of 1,729,442 shares, compared to its average volume of 865,184. The business's fifty day moving average is $8.41 and its 200-day moving average is $7.35. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -48.91 and a beta of 1.01. Yext has a 1-year low of $5.51 and a 1-year high of $9.20.

Hedge Funds Weigh In On Yext

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its position in Yext by 2.9% in the second quarter. Rhumbline Advisers now owns 160,040 shares of the company's stock valued at $1,360,000 after purchasing an additional 4,444 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Yext by 1.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company's stock worth $2,593,000 after purchasing an additional 4,802 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Yext by 29.2% in the 2nd quarter. Quantinno Capital Management LP now owns 43,885 shares of the company's stock worth $373,000 after acquiring an additional 9,914 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Yext by 197.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,261 shares of the company's stock worth $130,000 after purchasing an additional 10,134 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Yext by 123.7% in the 2nd quarter. Lazard Asset Management LLC now owns 21,350 shares of the company's stock worth $181,000 after buying an additional 11,807 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on YEXT shares. DA Davidson upped their price objective on shares of Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Zacks Research downgraded Yext from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Wall Street Zen downgraded Yext from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Yext in a research note on Monday, August 18th. Finally, B. Riley raised Yext from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $7.00 to $10.00 in a research report on Wednesday, June 4th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Yext has a consensus rating of "Moderate Buy" and a consensus target price of $9.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.