Yext (NYSE:YEXT) Lifted 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 research note issued to investors on Thursday, MarketBeat reports. They currently have $8.00 price objective on the stock.

YEXT has been the topic of a number of other reports. DA Davidson decreased their target price on Yext from $7.25 to $5.50 and set a neutral rating on the stock in a report on Tuesday, June 11th. Roth Mkm reiterated a buy rating and issued a $8.00 price objective on shares of Yext in a report on Tuesday, June 11th.

Yext Price Performance

Shares of YEXT stock opened at $6.22 on Thursday. The company has a fifty day moving average price of $5.24 and a two-hundred day moving average price of $5.43. Yext has a one year low of $4.29 and a one year high of $7.59. The stock has a market cap of $784.59 million, a P/E ratio of -124.40 and a beta of 1.17.

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

Insider Activity

In related news, General Counsel Ho Shin sold 35,000 shares of the business’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 125,207 shares in the company, valued at approximately $631,043.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in shares of Yext by 937.2% in the fourth quarter. Russell Investments Group Ltd. now owns 119,626 shares of the company’s stock valued at $705,000 after buying an additional 108,093 shares during the period. Victory Capital Management Inc. lifted its position in shares of Yext by 23.1% during 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Yext by 20.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,108,423 shares of the company’s stock worth $6,529,000 after purchasing an additional 186,838 shares in the last quarter. Versor Investments LP bought a new position in shares of Yext in the fourth quarter worth $125,000. Finally, BNP Paribas Financial Markets raised its stake in Yext by 56.1% in 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 in the last quarter. 70.98% of the stock is owned by institutional investors.

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.