Equities analysts forecast that Yext Inc (NYSE:YEXT) will post sales of $58.27 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Yext’s earnings, with estimates ranging from $57.93 million to $58.62 million. Yext reported sales of $44.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.4%. The company is scheduled to announce its next earnings report on Thursday, November 29th.
On average, analysts expect that Yext will report full-year sales of $227.55 million for the current financial year, with estimates ranging from $227.00 million to $228.70 million. For the next fiscal year, analysts forecast that the business will report sales of $299.56 million, with estimates ranging from $289.78 million to $304.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Yext.
Yext (NYSE:YEXT) last announced its earnings results on Thursday, August 30th. The company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $53.67 million. Yext had a negative net margin of 36.92% and a negative return on equity of 91.20%.
YEXT has been the subject of a number of recent research reports. Morgan Stanley reiterated a “hold” rating and issued a $26.00 target price (up from $15.00) on shares of Yext in a report on Tuesday, September 18th. Zacks Investment Research downgraded shares of Yext from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. DA Davidson initiated coverage on shares of Yext in a report on Monday, October 8th. They issued a “buy” rating and a $28.00 target price for the company. SunTrust Banks initiated coverage on shares of Yext in a report on Monday, August 13th. They issued a “buy” rating for the company. Finally, KeyCorp reiterated a “hold” rating on shares of Yext in a report on Thursday, August 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Yext currently has a consensus rating of “Buy” and a consensus price target of $24.00.
Yext stock traded up $1.33 during trading hours on Friday, reaching $20.00. The stock had a trading volume of 715,184 shares, compared to its average volume of 1,005,959. The company has a market capitalization of $1.92 billion, a PE ratio of -23.53 and a beta of 1.67. Yext has a 52 week low of $10.58 and a 52 week high of $27.19.
In other news, insider Tom Christopher Dixon sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $18.33, for a total transaction of $91,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard Lerman sold 63,294 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.04, for a total value of $1,584,881.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 876,894 shares of company stock worth $20,193,216. Insiders own 20.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in YEXT. Northern Trust Corp raised its stake in shares of Yext by 2.4% during the 1st quarter. Northern Trust Corp now owns 240,879 shares of the company’s stock worth $3,047,000 after buying an additional 5,687 shares during the period. BlackRock Inc. raised its stake in shares of Yext by 3.1% during the 1st quarter. BlackRock Inc. now owns 1,296,429 shares of the company’s stock worth $16,399,000 after buying an additional 39,389 shares during the period. New York State Common Retirement Fund raised its stake in shares of Yext by 86.9% during the 1st quarter. New York State Common Retirement Fund now owns 24,300 shares of the company’s stock worth $307,000 after buying an additional 11,300 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Yext during the 1st quarter worth approximately $255,000. Finally, UBS Group AG raised its stake in shares of Yext by 42.2% during the 1st quarter. UBS Group AG now owns 17,577 shares of the company’s stock worth $222,000 after buying an additional 5,217 shares during the period. 44.50% of the stock is owned by institutional investors and hedge funds.
Yext Company Profile
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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