Yext (NYSE:YEXT) Sets New 1-Year High – Time to Buy?

Yext, Inc. (NYSE:YEXT)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $8.17 and last traded at $8.15, with a volume of 119550 shares changing hands. The stock had previously closed at $7.95.

Analyst Upgrades and Downgrades

YEXT has been the subject of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $7.50 price target (down previously from $8.00) on shares of Yext in a research report on Thursday, September 5th. DA Davidson boosted their price objective on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC raised Yext from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Thursday, September 5th.

Yext Stock Up 5.8 %

The stock’s 50 day moving average price is $7.10 and its 200 day moving average price is $5.92.

Yext (NYSE:YEXT) last released its quarterly 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 firm had revenue of $97.90 million for the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. As a group, sell-side analysts forecast that Yext, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Seth H. Waugh purchased 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.65 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Yext by 1.6% in the 1st quarter. Russell Investments Group Ltd. now owns 121,487 shares of the company’s stock valued at $733,000 after purchasing an additional 1,861 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Yext by 53.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 919,831 shares of the company’s stock worth $5,537,000 after purchasing an additional 321,812 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Yext by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,598 shares of the company’s stock valued at $306,000 after buying an additional 4,711 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Yext by 652.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock valued at $2,056,000 after buying an additional 295,658 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in Yext by 67.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company’s stock worth $9,069,000 after buying an additional 603,598 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.