Needham & Company LLC Forecasts Strong Price Appreciation for Yext (NYSE:YEXT) Stock

Yext (NYSE:YEXT) had its price target lifted by investment analysts at Needham & Company LLC from $8.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 17.37% from the company’s previous close.

Several other equities analysts also recently commented on YEXT. DA Davidson increased their price objective on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Roth Mkm restated a “buy” rating and set a $7.50 price objective (down previously from $8.00) on shares of Yext in a research report on Thursday, September 5th.

Yext Stock Performance

Shares of YEXT stock opened at $8.52 on Tuesday. The company has a market cap of $1.09 billion, a PE ratio of -170.40 and a beta of 1.20. Yext has a fifty-two week low of $4.29 and a fifty-two week high of $8.75. The stock’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $6.14.

Insider Activity at Yext

In other news, Director Seth H. Waugh bought 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the acquisition, the director now directly 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 document filed with the SEC, which is available at this link. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Yext by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,598 shares of the company’s stock worth $306,000 after acquiring an additional 4,711 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Yext by 739.1% in the 2nd quarter. SG Americas Securities LLC now owns 98,239 shares of the company’s stock valued at $526,000 after buying an additional 86,531 shares during the period. Dynamic Advisor Solutions LLC increased its position in 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 buying an additional 3,385 shares in the last quarter. Gladius Capital Management LP acquired a new position in Yext during the 2nd quarter worth approximately $145,000. Finally, Principal Financial Group Inc. boosted its holdings in Yext by 11.8% in the second quarter. Principal Financial Group Inc. now owns 93,516 shares of the company’s stock worth $500,000 after acquiring an additional 9,849 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.