DA Davidson Boosts Yext (NYSE:YEXT) Price Target to $22.00

Yext (NYSE:YEXT) had its target price upped by DA Davidson from $18.50 to $22.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. MKM Partners began coverage on shares of Yext in a research note on Wednesday, June 24th. They issued a buy rating and a $25.00 target price for the company. Royal Bank of Canada restated a buy rating and set a $18.00 price target on shares of Yext in a research report on Sunday, June 7th. Morgan Stanley increased their price target on shares of Yext from $12.00 to $13.00 and gave the company an underweight rating in a research report on Friday. Zacks Investment Research lowered shares of Yext from a buy rating to a hold rating in a research report on Friday, August 7th. Finally, Needham & Company LLC increased their price target on shares of Yext from $19.00 to $21.00 and gave the company a buy rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $19.00.

NYSE YEXT opened at $16.45 on Friday. Yext has a 1 year low of $8.56 and a 1 year high of $20.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -14.82 and a beta of 1.59. The company has a fifty day moving average price of $17.28 and a 200-day moving average price of $14.97.

Yext (NYSE:YEXT) last posted its earnings results on Thursday, September 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Yext had a negative net margin of 38.54% and a negative return on equity of 63.03%. The firm had revenue of $88.06 million during the quarter, compared to analyst estimates of $85.14 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business’s revenue was up 21.7% compared to the same quarter last year. On average, research analysts anticipate that Yext will post -1.04 EPS for the current fiscal year.

In other news, CTO Tom Christopher Dixon sold 2,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $15.13, for a total value of $37,825.00. Following the sale, the chief technology officer now directly owns 181,408 shares of the company’s stock, valued at $2,744,703.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Howard Lerman sold 75,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $17.36, for a total transaction of $1,302,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,026,604 shares in the company, valued at $52,541,845.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,213 shares of company stock worth $6,500,070. Insiders own 14.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Yext in the first quarter worth about $282,000. Capital World Investors lifted its holdings in shares of Yext by 3.3% in the first quarter. Capital World Investors now owns 9,517,832 shares of the company’s stock worth $96,987,000 after buying an additional 303,356 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Yext by 38.7% in the first quarter. Wells Fargo & Company MN now owns 229,361 shares of the company’s stock worth $2,337,000 after buying an additional 63,991 shares in the last quarter. Geode Capital Management LLC raised its stake in Yext by 9.7% in the first quarter. Geode Capital Management LLC now owns 1,319,385 shares of the company’s stock valued at $13,444,000 after purchasing an additional 116,659 shares in the last quarter. Finally, Swiss National Bank raised its stake in Yext by 49.1% in the second quarter. Swiss National Bank now owns 179,400 shares of the company’s stock valued at $2,980,000 after purchasing an additional 59,100 shares in the last quarter. 70.61% of the stock is currently owned by hedge funds and other institutional investors.

Yext Company Profile

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. 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 knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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