Yext (NYSE:YEXT) Shares Gap Up - Still a Buy?

Key Points

• Yext shares gapped up on Monday, opening at $8.67, after closing the previous day at $8.09, with a last trade price of $8.89.
• Analysts have set new price targets for Yext, with Needham & Company reiterating a "buy" rating at $10.00, and B. Riley upgrading the stock and raising their target price from $7.00 to $10.00.
• Hedge funds and institutional investors hold 70.98% of Yext's stock, indicating significant confidence in the company's potential.

Yext (NYSE:YEXT - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $8.09, but opened at $8.67. Yext shares last traded at $8.89, with a volume of 411,818 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on YEXT shares. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 target price on shares of Yext in a research report on Monday. B. Riley upgraded shares of 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 research report on Wednesday, June 4th. Finally, DA Davidson upped their target price on shares of Yext from $7.50 to $8.25 and gave the stock a "neutral" rating in a report on Thursday, June 5th.

Yext Price Performance

The firm has a market cap of $1.11 billion, a PE ratio of -50.12 and a beta of 1.06. The stock's fifty day moving average price is $8.22 and its 200-day moving average price is $7.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New Age Alpha Advisors LLC purchased a new position in Yext in the first quarter worth approximately $43,000. Optas LLC purchased a new position in Yext in the first quarter worth approximately $71,000. Martingale Asset Management L P lifted its stake in Yext by 16.4% in the first quarter. Martingale Asset Management L P now owns 14,209 shares of the company's stock worth $88,000 after acquiring an additional 2,002 shares during the last quarter. Ieq Capital LLC purchased a new position in Yext in the first quarter worth approximately $90,000. Finally, 111 Capital purchased a new position in Yext in the second quarter worth approximately $100,000. 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.

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.