Yext (NYSE:YEXT) Earns “Neutral” Rating from DA Davidson

Yext (NYSE:YEXT)‘s stock had its “neutral” rating reaffirmed by research analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 9.79% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Roth Mkm lowered Yext from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $9.50 to $6.00 in a research report on Wednesday. B. Riley Financial reduced their price objective on shares of Yext from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen upgraded shares of Yext from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings cut shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Two equities research analysts have 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.50.

Yext Stock Down 0.3%

Shares of YEXT stock traded down $0.02 during trading hours on Wednesday, hitting $5.47. 2,736,844 shares of the company’s stock traded hands, compared to its average volume of 2,272,165. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $7.83. Yext has a 12-month low of $4.66 and a 12-month high of $9.20. The stock has a market cap of $671.81 million, a price-to-earnings ratio of 91.10 and a beta of 1.01.

Yext (NYSE:YEXT) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Yext had a return on equity of 30.08% and a net margin of 8.48%.The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $114.21 million. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. On average, analysts expect that Yext will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Yext

Institutional investors and hedge funds have recently modified their holdings of the company. Lynrock Lake LP increased its position in Yext by 23.3% during the fourth quarter. Lynrock Lake LP now owns 15,132,384 shares of the company’s stock valued at $121,967,000 after acquiring an additional 2,861,653 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Yext by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,595,447 shares of the company’s stock valued at $47,561,000 after purchasing an additional 371,253 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Yext by 126.2% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,952,453 shares of the company’s stock valued at $23,797,000 after purchasing an additional 1,647,174 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Yext by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,602,559 shares of the company’s stock worth $20,980,000 after purchasing an additional 23,914 shares during the period. Finally, Federated Hermes Inc. grew its position in Yext by 28.7% during the fourth quarter. Federated Hermes Inc. now owns 1,871,845 shares of the company’s stock valued at $15,087,000 after buying an additional 417,896 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

About Yext

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.