Yext (NYSE:YEXT) Shares Down 6.1% - Time to Sell?

Yext, Inc. (NYSE:YEXT - Get Free Report) dropped 6.1% during trading on Thursday . The company traded as low as $8.09 and last traded at $8.43. Approximately 858,459 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 916,422 shares. The stock had previously closed at $8.97.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on YEXT shares. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of Yext in a report on Wednesday. Roth Mkm restated a "buy" rating and set a $9.50 target price (down from $10.50) on shares of Yext in a research note on Wednesday, February 26th. B. Riley raised Yext from a "neutral" rating to a "buy" rating and raised their target price for the company from $7.00 to $10.00 in a report on Wednesday. Finally, DA Davidson lifted their price target on Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a research note on Thursday.

Yext Trading Up 0.9%

The stock's 50-day moving average price is $6.55 and its 200-day moving average price is $6.67. The company has a market cap of $1.11 billion, a P/E ratio of -59.20 and a beta of 0.99.

Yext (NYSE:YEXT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.20). The business had revenue of $113.09 million during the quarter, compared to the consensus estimate of $112.77 million. Yext had a negative net margin of 4.64% and a negative return on equity of 11.10%. On average, research analysts anticipate that Yext, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Yext

A number of large investors have recently bought and sold shares of YEXT. Rhumbline Advisers increased its holdings in Yext by 4.7% during the 1st quarter. Rhumbline Advisers now owns 155,596 shares of the company's stock worth $958,000 after acquiring an additional 7,047 shares during the period. Strs Ohio purchased a new position in shares of Yext during the 1st quarter valued at $562,000. Millennium Management LLC bought a new position in shares of Yext in the first quarter worth $3,964,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Yext by 1.2% in the first 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. Finally, Lynrock Lake LP raised its position in shares of 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 buying an additional 1,009,285 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other 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.