Yext (NYSE:YEXT) Short Interest Update

Key Points

• Yext experienced a 33.8% drop in short interest in March to 11,164,014 shares, equal to 9.5% of shares sold short and a short-interest ratio of 1.7 days.
• Analyst sentiment is cautious: the consensus rating is Hold with an average price target of $7.50 after several downgrades and lower targets from firms like B. Riley, Roth MKM and Weiss.
• Institutions own roughly 71% of the stock with some recent buying, while the shares trade near $3.51 (close to the 52-week low) after a slight EPS beat but a small revenue shortfall.

Yext (NYSE:YEXT - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 11,164,014 shares, a decrease of 33.8% from the March 15th total of 16,851,459 shares. Based on an average trading volume of 6,484,550 shares, the short-interest ratio is currently 1.7 days. Currently, 9.5% of the company's stock are sold short.

Institutional Trading of Yext

Several hedge funds and other institutional investors have recently made changes to their positions in YEXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Yext by 1.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company's stock worth $2,593,000 after buying an additional 4,802 shares during the last quarter. Millennium Management LLC bought a new position in Yext in the 1st quarter valued at approximately $3,964,000. Creative Planning bought a new position in Yext in the 2nd quarter valued at approximately $109,000. Rhumbline Advisers lifted its position in Yext by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 160,040 shares of the company's stock valued at $1,360,000 after acquiring an additional 4,444 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Yext by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 222,726 shares of the company's stock valued at $1,893,000 after acquiring an additional 58,859 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

YEXT has been the topic of a number of research analyst reports. B. Riley Financial reduced their target price on Yext from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. Wall Street Zen downgraded Yext from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Weiss Ratings downgraded Yext from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Roth Mkm downgraded Yext from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $9.50 to $6.00 in a report on Wednesday, March 11th. Finally, DA Davidson reiterated a "neutral" rating and set a $6.00 target price on shares of Yext in a report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Yext presently has an average rating of "Hold" and an average price target of $7.50.

Yext Stock Up 2.9%

Shares of Yext stock traded up $0.10 during midday trading on Tuesday, hitting $3.51. The company had a trading volume of 1,834,071 shares, compared to its average volume of 4,609,894. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $432.96 million, a P/E ratio of 58.51 and a beta of 1.19. The company has a 50 day moving average of $4.89 and a 200 day moving average of $7.03. Yext has a 52-week low of $3.29 and a 52-week high of $9.20.

Yext (NYSE:YEXT - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $114.21 million. Yext had a return on equity of 29.61% and a net margin of 8.48%.The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. On average, equities analysts predict that Yext will post -0.12 earnings per share for the current fiscal year.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.