Yext (NYSE:YEXT) Raised to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Yext (NYSE:YEXT) from a hold rating to a buy rating in a report published on Thursday, MarketBeat reports. The brokerage currently has $8.00 price target on the stock.

YEXT has been the topic of a number of other research reports. Roth Mkm reaffirmed a buy rating and set a $8.00 price target on shares of Yext in a research report on Tuesday, June 11th. DA Davidson lowered their target price on Yext from $7.25 to $5.50 and set a neutral rating for the company in a research note on Tuesday, June 11th.

Yext Trading Up 11.9 %

Yext stock opened at $6.22 on Thursday. The firm has a market capitalization of $784.59 million, a P/E ratio of -124.40 and a beta of 1.17. The business has a 50-day moving average of $5.24 and a 200-day moving average of $5.43. Yext has a 1 year low of $4.29 and a 1 year high of $7.59.

Yext (NYSE:YEXT) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Yext had a negative net margin of 1.68% and a negative return on equity of 3.44%. The firm had revenue of $97.90 million during the quarter, compared to analysts’ expectations of $98.15 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Research analysts anticipate that Yext will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Ho Shin sold 35,000 shares of Yext stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $5.04, for a total value of $176,400.00. Following the sale, the general counsel now owns 125,207 shares of the company’s stock, valued at approximately $631,043.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in Yext by 937.2% during the 4th quarter. Russell Investments Group Ltd. now owns 119,626 shares of the company’s stock worth $705,000 after buying an additional 108,093 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Yext by 23.1% in the 4th quarter. Victory Capital Management Inc. now owns 13,587 shares of the company’s stock valued at $80,000 after acquiring an additional 2,547 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Yext by 20.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,108,423 shares of the company’s stock valued at $6,529,000 after acquiring an additional 186,838 shares during the last quarter. Versor Investments LP bought a new stake in Yext during the fourth quarter worth about $125,000. Finally, BNP Paribas Financial Markets boosted its position in Yext by 56.1% during the fourth quarter. BNP Paribas Financial Markets now owns 217,266 shares of the company’s stock valued at $1,280,000 after purchasing an additional 78,040 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

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.