Shares of Yext Inc (NYSE:YEXT) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $23.83.
Several equities research analysts have issued reports on YEXT shares. Morgan Stanley lowered Yext from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $18.00 to $15.00 in a research note on Tuesday, January 15th. Oppenheimer began coverage on Yext in a research report on Thursday, January 24th. They set an “outperform” rating and a $23.00 price objective on the stock. SunTrust Banks reiterated a “buy” rating and set a $30.00 price objective on shares of Yext in a research report on Monday, March 18th. Finally, Zacks Investment Research raised Yext from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, March 27th.
Shares of NYSE YEXT traded down $0.12 during mid-day trading on Friday, reaching $21.72. 613,107 shares of the company were exchanged, compared to its average volume of 1,492,497. Yext has a 52 week low of $12.20 and a 52 week high of $27.19. The company has a market capitalization of $2.23 billion, a P/E ratio of -28.58 and a beta of 0.94.
Yext (NYSE:YEXT) last announced its earnings results on Wednesday, March 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. The company had revenue of $63.80 million during the quarter, compared to analyst estimates of $62.77 million. Yext had a negative net margin of 34.74% and a negative return on equity of 101.77%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. As a group, sell-side analysts predict that Yext will post -0.85 earnings per share for the current fiscal year.
In other news, insider Tom Christopher Dixon sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $15.41, for a total value of $77,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 2,000 shares of the business’s stock in a transaction dated Monday, January 14th. The shares were sold at an average price of $15.67, for a total value of $31,340.00. The disclosure for this sale can be found here. Insiders sold a total of 599,850 shares of company stock valued at $11,321,591 in the last ninety days. 20.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of YEXT. Bank of New York Mellon Corp increased its stake in Yext by 431.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,507 shares of the company’s stock worth $7,224,000 after purchasing an additional 303,271 shares during the period. Wells Fargo & Company MN increased its stake in shares of Yext by 4.6% in the third quarter. Wells Fargo & Company MN now owns 88,458 shares of the company’s stock worth $2,097,000 after buying an additional 3,897 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Yext by 47.0% in the third quarter. Commonwealth Equity Services LLC now owns 48,810 shares of the company’s stock worth $1,156,000 after buying an additional 15,613 shares during the period. Swiss National Bank raised its holdings in Yext by 5.7% during the 3rd quarter. Swiss National Bank now owns 75,500 shares of the company’s stock valued at $1,789,000 after buying an additional 4,100 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Yext by 1.5% during the 3rd quarter. BlackRock Inc. now owns 5,222,295 shares of the company’s stock valued at $123,769,000 after buying an additional 75,164 shares during the last quarter. Institutional investors own 53.84% of the company’s stock.
Yext Company Profile
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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