Oppenheimer assumed coverage on shares of Yext (NYSE:YEXT) in a report published on Thursday, January 24th, The Fly reports. The firm issued an outperform rating and a $23.00 price objective on the stock.
A number of other research analysts have also weighed in on YEXT. Zacks Investment Research raised Yext from a sell rating to a hold rating in a research note on Saturday, November 17th. SunTrust Banks reissued a buy rating and set a $28.00 price target on shares of Yext in a research note on Friday, December 14th. KeyCorp reissued a hold rating on shares of Yext in a research note on Thursday, November 29th. Berenberg Bank assumed coverage on Yext in a report on Friday, November 16th. They set a buy rating and a $25.00 price objective for the company. Finally, DA Davidson dropped their price objective on Yext to $24.00 and set a buy rating for the company in a report on Monday, December 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Yext has a consensus rating of Buy and an average target price of $22.57.
YEXT stock traded up $0.43 on Thursday, reaching $18.09. The company had a trading volume of 832,166 shares, compared to its average volume of 695,445. Yext has a 1 year low of $10.64 and a 1 year high of $27.19. The firm has a market cap of $1.78 billion, a P/E ratio of -21.28 and a beta of 0.77.
Yext (NYSE:YEXT) last posted its earnings results on Thursday, November 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Yext had a negative net margin of 38.03% and a negative return on equity of 104.78%. The company had revenue of $58.70 million during the quarter, compared to analysts’ expectations of $58.39 million. During the same period in the previous year, the company posted ($0.12) EPS. Yext’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, analysts anticipate that Yext will post -0.83 EPS for the current year.
In other news, CEO Howard Lerman sold 3,509 shares of Yext stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $13.34, for a total transaction of $46,810.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tom Christopher Dixon sold 5,000 shares of Yext stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $17.08, for a total value of $85,400.00. The disclosure for this sale can be found here. Insiders sold 627,067 shares of company stock worth $9,950,452 in the last three months. 20.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Yext by 431.8% in the second quarter. Bank of New York Mellon Corp now owns 373,507 shares of the company’s stock worth $7,224,000 after buying an additional 303,271 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Yext by 460.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 374,486 shares of the company’s stock worth $7,243,000 after buying an additional 307,619 shares during the last quarter. BlackRock Inc. grew its position in Yext by 297.0% in the second quarter. BlackRock Inc. now owns 5,147,131 shares of the company’s stock worth $99,546,000 after buying an additional 3,850,702 shares during the last quarter. Legal & General Group Plc grew its position in Yext by 212.6% in the second quarter. Legal & General Group Plc now owns 12,970 shares of the company’s stock worth $251,000 after buying an additional 8,821 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Yext in the second quarter worth approximately $15,478,000. 51.11% of the stock is currently owned by institutional investors.
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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