Yext (NYSE:YEXT) Sees Large Decrease in Short Interest

Yext (NYSE:YEXT) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 11,164,014 shares, a drop 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. Approximately 9.5% of the company’s shares are sold short.

Yext Trading Up 0.1%

YEXT stock traded up $0.01 during midday trading on Thursday, reaching $3.63. 930,031 shares of the company’s stock traded hands, compared to its average volume of 3,941,874. The company has a market capitalization of $447.14 million, a P/E ratio of 60.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. Yext has a fifty-two week low of $3.29 and a fifty-two week high of $9.20. The business has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $6.98.

Yext (NYSE:YEXT) last announced its quarterly earnings results on Monday, March 9th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Yext had a net margin of 8.48% and a return on equity of 29.61%. The firm had revenue of $112.00 million for the quarter, compared to analysts’ expectations of $114.21 million. During the same period in the previous year, the company posted $0.13 earnings per share. Yext’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Yext will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in YEXT. Lynrock Lake LP boosted its position in Yext by 23.3% in the 4th quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after buying an additional 2,861,653 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in Yext by 126.2% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock valued at $23,797,000 after buying an additional 1,647,174 shares during the last quarter. First Trust Advisors LP purchased a new position in Yext in the 4th quarter valued at about $5,634,000. Millennium Management LLC purchased a new position in Yext in the 1st quarter valued at about $3,964,000. Finally, Qube Research & Technologies Ltd boosted its position in Yext by 97.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 957,958 shares of the company’s stock valued at $8,143,000 after buying an additional 472,000 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of Yext in a research note on Wednesday, March 11th. Wall Street Zen cut shares of Yext from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. B. Riley Financial reduced their price target on shares of Yext from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Roth Mkm cut shares of Yext from a “buy” rating to a “neutral” rating and reduced their price target for the company from $9.50 to $6.00 in a research report on Wednesday, March 11th. Finally, Weiss Ratings cut shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Yext presently has an average rating of “Hold” and a consensus target price of $7.50.

About Yext

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.