Yext, Inc. (NYSE:YEXT) Short Interest Down 17.3% in October

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

Wall Street Analysts Forecast Growth

Several analysts have commented on YEXT shares. DA Davidson increased their price target on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Roth Mkm reiterated a “buy” rating and set a $7.50 price objective (down previously from $8.00) on shares of Yext in a report 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 Performance

Shares of YEXT traded down $0.11 during trading hours on Friday, hitting $7.78. The stock had a trading volume of 478,051 shares, compared to its average volume of 606,666. The firm has a 50-day moving average price of $6.96 and a 200 day moving average price of $5.83. The firm has a market capitalization of $995.22 million, a price-to-earnings ratio of -155.70 and a beta of 1.17. Yext has a fifty-two week low of $4.29 and a fifty-two week high of $8.14.

Yext (NYSE:YEXT) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The business had revenue of $97.90 million during the quarter, compared to analysts’ expectations of $98.15 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, analysts predict that Yext will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Seth H. Waugh bought 32,600 shares of Yext stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $6.65 per share, with a total value of $216,790.00. Following the completion of the transaction, the director now owns 153,350 shares in the company, valued at $1,019,777.50. The trade was a 27.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in Yext by 652.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock worth $2,056,000 after purchasing an additional 295,658 shares in the last quarter. Lynrock Lake LP boosted its stake in Yext by 23.8% during the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after buying an additional 1,591,791 shares during the last quarter. Federated Hermes Inc. grew its holdings in Yext by 86.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock valued at $14,704,000 after buying an additional 1,275,348 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock worth $25,332,000 after acquiring an additional 526,043 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Yext by 53.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 919,831 shares of the company’s stock worth $5,537,000 after acquiring an additional 321,812 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About Yext

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.