Short Interest in Yext, Inc. (NYSE:YEXT) Declines By 17.3%

Yext, Inc. (NYSE:YEXT) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,240,000 shares, a decrease of 17.3% from the October 15th total of 3,920,000 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average trading volume of 851,900 shares, the days-to-cover ratio is currently 3.8 days.

Insider Buying and Selling at Yext

In related news, Director Seth H. Waugh purchased 32,600 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the purchase, the director now owns 153,350 shares in the company, valued at approximately $1,019,777.50. This represents a 27.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Yext

A number of institutional investors and hedge funds have recently made changes to their positions in YEXT. Williams & Novak LLC bought a new stake in Yext during the 2nd quarter valued at $56,000. Canada Pension Plan Investment Board acquired a new position in shares of Yext during the second quarter valued at about $62,000. Quantinno Capital Management LP bought a new stake in shares of Yext during the third quarter worth about $76,000. Dynamic Advisor Solutions LLC raised its holdings in shares of Yext by 27.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock worth $83,000 after acquiring an additional 3,385 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Yext by 36.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock valued at $100,000 after acquiring an additional 4,946 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Yext Stock Performance

Yext stock opened at $7.78 on Friday. The stock has a market capitalization of $995.22 million, a price-to-earnings ratio of -155.60 and a beta of 1.17. Yext has a 52-week low of $4.29 and a 52-week high of $8.14. The stock’s 50 day moving average price is $6.96 and its two-hundred day moving average price is $5.83.

Yext (NYSE:YEXT) last issued its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $97.90 million for the quarter, compared to analyst estimates of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. Yext’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, equities research analysts forecast that Yext will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and set a $7.50 price target (down previously from $8.00) on shares of Yext in a report on Thursday, September 5th. DA Davidson boosted their target price on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC raised shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, September 5th.

Yext Company Profile

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.