Yext (NYSE:YEXT) Rating Increased to Buy at Zacks Investment Research

Yext (NYSE:YEXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm presently has a $16.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.50% from the company’s current price.

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. “

A number of other equities analysts also recently weighed in on YEXT. Truist lowered their price target on Yext from $23.00 to $17.00 in a research report on Thursday, March 4th. William Blair reissued a “market perform” rating on shares of Yext in a research report on Wednesday, March 10th. Needham & Company LLC boosted their price target on Yext from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 18th. Finally, Morgan Stanley lowered their price target on Yext from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Thursday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $18.64.

Shares of Yext stock opened at $14.48 on Wednesday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -18.33 and a beta of 1.42. The firm has a 50-day moving average price of $13.80. Yext has a one year low of $12.01 and a one year high of $20.90.

Yext (NYSE:YEXT) last released its earnings results on Wednesday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Yext had a negative return on equity of 47.62% and a negative net margin of 26.70%. The business had revenue of $92.00 million for the quarter, compared to analyst estimates of $88.60 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Yext’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that Yext will post -0.75 earnings per share for the current year.

In related news, COO Brian Distelburger sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $16.17, for a total value of $161,700.00. Following the completion of the sale, the chief operating officer now directly owns 3,153,653 shares in the company, valued at $50,994,569.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard Lerman sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $16.13, for a total value of $1,209,750.00. Following the completion of the sale, the chief executive officer now owns 2,869,537 shares of the company’s stock, valued at $46,285,631.81. The disclosure for this sale can be found here. Insiders sold 150,085 shares of company stock worth $2,353,208 in the last ninety days. 14.20% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise boosted its stake in shares of Yext by 185.7% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $31,000 after buying an additional 1,300 shares during the period. Reby Advisors LLC bought a new stake in shares of Yext in the fourth quarter valued at approximately $31,000. Quantbot Technologies LP bought a new stake in shares of Yext in the first quarter valued at approximately $51,000. Russell Investments Group Ltd. bought a new stake in shares of Yext in the first quarter valued at approximately $112,000. Finally, Paloma Partners Management Co bought a new stake in Yext during the first quarter worth $160,000. Institutional investors and hedge funds own 72.32% of the company’s stock.

About Yext

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to provide answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews through its Knowledge Network of approximately 200 maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories and social networks.

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