Yext (NYSE:YEXT) Sets New 1-Year High - Here's Why

Key Points

• Yext shares hit a new 52-week high, trading at $9.20, with a volume of 138,630 shares, indicating increased investor interest.
• Wall Street analysts have a generally positive outlook on Yext, with three analysts rating it as a "buy" and an average price target of $9.44.
• Recent hedge fund activity shows substantial investment in Yext, with significant increases in holdings from multiple large investors, indicating a growing confidence in the company's future.

Yext (NYSE:YEXT - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $9.20 and last traded at $9.11, with a volume of 138630 shares. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

Several analysts have issued reports on YEXT shares. B. Riley upgraded shares of Yext from a "neutral" rating to a "buy" rating and increased their target price for the stock from $7.00 to $10.00 in a research note on Wednesday, June 4th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 target price on shares of Yext in a research note on Monday, August 18th. DA Davidson increased their target price on shares of Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Finally, Zacks Research cut shares of Yext from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Yext presently has an average rating of "Moderate Buy" and an average price target of $9.44.

Yext Stock Performance

The company has a market cap of $1.12 billion, a PE ratio of -50.69 and a beta of 1.06. The business's 50-day moving average is $8.30 and its 200 day moving average is $7.22.

Hedge Funds Weigh In On Yext

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Yext by 10.0% in the 4th quarter. Bank of America Corp DE now owns 632,650 shares of the company's stock worth $4,024,000 after purchasing an additional 57,442 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Yext by 21.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,034,100 shares of the company's stock worth $6,370,000 after acquiring an additional 185,116 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Yext by 88.2% in the 1st quarter. Victory Capital Management Inc. now owns 129,163 shares of the company's stock worth $796,000 after acquiring an additional 60,544 shares during the last quarter. XTX Topco Ltd grew its holdings in Yext by 74.1% in the 1st quarter. XTX Topco Ltd now owns 118,787 shares of the company's stock worth $732,000 after acquiring an additional 50,577 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Yext by 61.0% in the 1st quarter. Deutsche Bank AG now owns 513,073 shares of the company's stock worth $3,161,000 after acquiring an additional 194,429 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

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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