Yext (YEXT) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Yext (NYSE:YEXT) from a sell rating to a hold rating in a research note issued to investors on Saturday.
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. DA Davidson started coverage on shares of Yext in a research report on Monday, October 8th. They set a buy rating and a $28.00 target price on the stock. SunTrust Banks started coverage on shares of Yext in a research report on Monday, August 13th. They set a buy rating on the stock. Morgan Stanley restated a hold rating and set a $26.00 target price (up from $15.00) on shares of Yext in a research report on Tuesday, September 18th. KeyCorp restated a hold rating on shares of Yext in a research report on Thursday, August 30th. Finally, Berenberg Bank started coverage on shares of Yext in a research report on Friday, November 16th. They set a buy rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $24.20.
Yext (NYSE:YEXT) last issued its earnings results on Thursday, August 30th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Yext had a negative net margin of 36.92% and a negative return on equity of 91.20%. The company had revenue of $55.10 million for the quarter, compared to analyst estimates of $53.67 million. Equities analysts anticipate that Yext will post -0.79 EPS for the current fiscal year.
In other news, insider Tom Christopher Dixon sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $26.46, for a total value of $330,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven Cakebread sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $24.82, for a total transaction of $496,400.00. The disclosure for this sale can be found here. Insiders sold 951,894 shares of company stock worth $21,022,206 over the last quarter. Company insiders own 20.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in YEXT. BlueMountain Capital Management LLC acquired a new stake in Yext during the second quarter worth approximately $118,000. FMR LLC acquired a new stake in Yext during the third quarter worth approximately $203,000. Signition LP acquired a new stake in Yext during the third quarter worth approximately $240,000. United Services Automobile Association acquired a new stake in Yext during the second quarter worth approximately $223,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Yext during the second quarter worth approximately $228,000. Institutional investors and hedge funds own 47.15% of the company’s stock.
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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