Zacks Investment Research upgraded shares of Yext (NYSE:YEXT) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $24.00 price objective on the stock.
According to Zacks, “Yext, Inc. provides digital media technology services. It offers advertising, monetization, phone and directory services which includes business listings on search sites and real-time reputation management. The Company provides Yext Knowledge Engine. It serves healthcare and pharmaceuticals, retail, financial services, manufacturing and technology industries. Yext, Inc. is based in New York. “
Several other brokerages have also weighed in on YEXT. SunTrust Banks reissued a buy rating and set a $30.00 target price on shares of Yext in a research report on Monday, March 18th. Morgan Stanley raised their target price on Yext from $15.00 to $16.00 and gave the stock an underweight rating in a research report on Thursday, March 7th. Finally, Oppenheimer started coverage on Yext in a research note on Thursday, January 24th. They set an outperform rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $23.13.
Shares of NYSE YEXT opened at $21.50 on Friday. Yext has a fifty-two week low of $12.82 and a fifty-two week high of $27.19. The stock has a market cap of $2.18 billion, a PE ratio of -28.29 and a beta of 0.93.
Yext (NYSE:YEXT) last issued its earnings results on Wednesday, March 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. Yext had a negative return on equity of 101.77% and a negative net margin of 34.74%. The business had revenue of $63.80 million for the quarter, compared to analyst estimates of $62.77 million. During the same quarter last year, the company earned ($0.10) EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. Research analysts forecast that Yext will post -0.85 earnings per share for the current fiscal year.
In related news, President Brian Distelburger sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $21.81, for a total transaction of $218,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard Lerman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $21.52, for a total value of $645,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 637,850 shares of company stock worth $12,408,751 in the last 90 days. 20.80% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in YEXT. Capital International Investors purchased a new position in Yext during the 3rd quarter worth approximately $44,201,000. Renaissance Technologies LLC grew its stake in shares of Yext by 159.7% in the 3rd quarter. Renaissance Technologies LLC now owns 2,078,686 shares of the company’s stock valued at $49,265,000 after purchasing an additional 1,278,386 shares during the last quarter. Morgan Stanley grew its stake in shares of Yext by 185.2% in the 3rd quarter. Morgan Stanley now owns 1,009,392 shares of the company’s stock valued at $23,922,000 after purchasing an additional 655,428 shares during the last quarter. BlackRock Inc. grew its stake in shares of Yext by 11.3% in the 4th quarter. BlackRock Inc. now owns 5,810,456 shares of the company’s stock valued at $86,285,000 after purchasing an additional 588,161 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Yext in the 4th quarter valued at approximately $7,743,000. Hedge funds and other institutional investors own 53.85% of the company’s stock.
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. 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 knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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