Yext (NYSE:YEXT - Get Rating) had its target price decreased by analysts at MKM Partners from $8.00 to $6.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. MKM Partners' price target would indicate a potential upside of 36.36% from the stock's previous close.
Separately, DA Davidson set a $6.00 target price on Yext in a research note on Monday, June 20th.
Yext Stock Performance
Shares of NYSE YEXT traded up $0.07 during mid-day trading on Thursday, reaching $4.40. 19,501 shares of the company's stock were exchanged, compared to its average volume of 981,782. The company's 50-day moving average is $4.63 and its 200-day moving average is $5.49. The firm has a market capitalization of $543.80 million, a price-to-earnings ratio of -5.58 and a beta of 1.29. Yext has a 52-week low of $4.00 and a 52-week high of $13.13.
Yext (NYSE:YEXT - Get Rating) last announced its earnings results on Wednesday, September 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $100.90 million during the quarter, compared to analyst estimates of $99.68 million. Yext had a negative net margin of 25.53% and a negative return on equity of 49.72%. Yext's revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) earnings per share. As a group, equities analysts predict that Yext will post -0.69 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Yext news, General Counsel Ho Shin sold 20,000 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $4.97, for a total value of $99,400.00. Following the sale, the general counsel now owns 47,992 shares of the company's stock, valued at approximately $238,520.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Ho Shin sold 20,000 shares of the firm's stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $4.97, for a total value of $99,400.00. Following the sale, the general counsel now directly owns 47,992 shares in the company, valued at approximately $238,520.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Marc Ferrentino sold 16,486 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $5.36, for a total value of $88,364.96. Following the completion of the transaction, the chief operating officer now directly owns 129,182 shares in the company, valued at approximately $692,415.52. The disclosure for this sale can be found here. Insiders sold a total of 71,947 shares of company stock worth $377,836 over the last 90 days. Corporate insiders own 8.50% of the company's stock.
Hedge Funds Weigh In On Yext
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Yext by 17.1% in the first quarter. Vanguard Group Inc. now owns 13,086,232 shares of the company's stock valued at $90,165,000 after buying an additional 1,909,294 shares during the last quarter. BlackRock Inc. lifted its stake in Yext by 5.5% in the first quarter. BlackRock Inc. now owns 11,289,862 shares of the company's stock valued at $77,787,000 after buying an additional 589,806 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Yext by 12.8% in the fourth quarter. Champlain Investment Partners LLC now owns 9,154,700 shares of the company's stock valued at $90,815,000 after buying an additional 1,041,502 shares during the last quarter. Lead Edge Capital Management LLC purchased a new stake in shares of Yext during the first quarter worth approximately $48,051,000. Finally, Hawk Ridge Capital Management LP purchased a new stake in shares of Yext during the first quarter worth approximately $25,583,000. 68.47% of the stock is owned by institutional investors and hedge funds.
About Yext
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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, as well as provides customers to update their information and content 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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