Zacks Research Downgrades Yext (NYSE:YEXT) to Hold

Yext (NYSE:YEXT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

YEXT has been the subject of a number of other research reports. Weiss Ratings upgraded Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Wall Street Zen lowered Yext from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.67.

Yext Stock Up 3.2%

Yext stock opened at $6.03 on Monday. The company has a 50 day moving average of $5.03 and a 200-day moving average of $4.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 6.03. Yext has a twelve month low of $3.27 and a twelve month high of $9.20. The stock has a market capitalization of $604.01 million, a PE ratio of 86.07 and a beta of 1.13.

Insiders Place Their Bets

In other Yext news, Director Seth H. Waugh acquired 133,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $3.75 per share, with a total value of $498,750.00. Following the completion of the transaction, the director directly owned 319,411 shares in the company, valued at $1,197,791.25. This trade represents a 71.35% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander bought 76,190 shares of Yext stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average price of $5.22 per share, with a total value of $397,711.80. Following the acquisition, the director directly owned 141,190 shares of the company’s stock, valued at $737,011.80. The trade was a 117.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Yext

A number of large investors have recently modified their holdings of YEXT. Clearstead Advisors LLC grew its holdings in shares of Yext by 147.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,677 shares of the company’s stock valued at $38,000 after acquiring an additional 2,784 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Yext during the second quarter worth about $31,000. Legal & General Group Plc acquired a new position in Yext during the second quarter valued at approximately $39,000. New York State Teachers Retirement System boosted its position in Yext by 9,253.0% during the first quarter. New York State Teachers Retirement System now owns 9,353 shares of the company’s stock valued at $36,000 after purchasing an additional 9,253 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in Yext in the first quarter valued at approximately $38,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.