Yext, Inc. (NYSE:YEXT) Sees Large Decrease in Short Interest

Yext, Inc. (NYSE:YEXT) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,240,000 shares, a drop of 17.3% from the October 15th total of 3,920,000 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average daily trading volume, of 851,900 shares, the short-interest ratio is presently 3.8 days.

Insider Transactions at Yext

In related news, Director Seth H. Waugh acquired 32,600 shares of Yext stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $6.65 per share, for a total transaction of $216,790.00. Following the acquisition, the director now owns 153,350 shares in the company, valued at approximately $1,019,777.50. This represents a 27.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Williams & Novak LLC acquired a new position in shares of Yext during the 2nd quarter valued at about $56,000. Canada Pension Plan Investment Board purchased a new position in Yext during the second quarter worth approximately $62,000. Quantinno Capital Management LP purchased a new position in Yext during the third quarter worth approximately $76,000. Dynamic Advisor Solutions LLC boosted its holdings in shares of Yext by 27.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock valued at $83,000 after purchasing an additional 3,385 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Yext by 36.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock valued at $100,000 after buying an additional 4,946 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Yext Stock Down 1.4 %

Shares of YEXT traded down $0.11 during trading hours on Friday, reaching $7.78. 478,051 shares of the company traded hands, compared to its average volume of 606,666. The stock has a market capitalization of $995.22 million, a PE ratio of -155.70 and a beta of 1.17. The stock has a fifty day simple moving average of $6.96 and a 200 day simple moving average of $5.83. Yext has a fifty-two week low of $4.29 and a fifty-two week high of $8.14.

Yext (NYSE:YEXT) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. Research analysts predict that Yext will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on YEXT. DA Davidson upped their price objective on shares of Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Roth Mkm restated a “buy” rating and set a $7.50 price target (down from $8.00) on shares of Yext in a research report on Thursday, September 5th. Finally, Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Thursday, September 5th.

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 offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.