Kornitzer Capital Management Inc. KS Invests $280,000 in Yext Inc. (NYSE:YEXT)
Kornitzer Capital Management Inc. KS bought a new position in shares of Yext Inc. (NYSE:YEXT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,000 shares of the company’s stock, valued at approximately $280,000.
Separately, Spark Investment Management LLC purchased a new position in shares of Yext during the second quarter worth approximately $1,530,000. 2.02% of the stock is currently owned by institutional investors.
Shares of Yext Inc. (NYSE YEXT) opened at 13.67 on Wednesday. Yext Inc. has a 1-year low of $11.63 and a 1-year high of $15.11. The stock’s 50 day moving average price is $13.25 and its 200 day moving average price is $13.42. The company’s market cap is $1.23 billion.
Yext (NYSE:YEXT) last announced its quarterly earnings data on Thursday, June 1st. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company had revenue of $37.10 million during the quarter, compared to the consensus estimate of $35.14 million. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities research analysts forecast that Yext Inc. will post ($0.51) earnings per share for the current year.
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YEXT has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “buy” rating and issued a $18.00 target price on shares of Yext in a research note on Friday, June 2nd. Morgan Stanley initiated coverage on Yext in a research note on Monday, May 8th. They set an “equal weight” rating and a $14.00 price target for the company. Zacks Investment Research upgraded Yext from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co initiated coverage on Yext in a research note on Monday, May 15th. They set a “neutral” rating and a $15.00 price target for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $17.00 price target on shares of Yext in a research note on Saturday, June 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Yext has a consensus rating of “Hold” and an average target price of $16.25.
Yext Inc is a knowledge engine provider. Yext puts business on the map. The Yext Knowledge Engine enables companies to manage their digital knowledge in the cloud and sync it to over 100 services in the PowerListings Network, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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