Yext (NYSE:YEXT) had its price objective boosted by investment analysts at Morgan Stanley from $15.00 to $16.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 28.83% from the company’s previous close.
A number of other brokerages have also recently weighed in on YEXT. SunTrust Banks restated a “buy” rating and set a $28.00 price objective on shares of Yext in a research note on Friday, December 14th. KeyCorp restated a “hold” rating on shares of Yext in a research note on Thursday, November 29th. Berenberg Bank started coverage on Yext in a research note on Friday, November 16th. They set a “buy” rating and a $25.00 price objective for the company. Oppenheimer started coverage on Yext in a research report on Thursday, January 24th. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research raised Yext from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Yext has a consensus rating of “Buy” and an average target price of $22.71.
Shares of NYSE YEXT opened at $22.48 on Thursday. Yext has a 1-year low of $11.70 and a 1-year high of $27.19.
Yext (NYSE:YEXT) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The firm had revenue of $63.80 million during the quarter, compared to analysts’ expectations of $62.77 million. Yext had a negative return on equity of 104.78% and a negative net margin of 38.03%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS. Research analysts anticipate that Yext will post -0.81 earnings per share for the current fiscal year.
In other news, Director Michael Walrath acquired 100,000 shares of the business’s stock in a transaction dated Friday, December 21st. The shares were acquired at an average cost of $13.35 per share, with a total value of $1,335,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard Lerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $15.54, for a total value of $466,200.00. The disclosure for this sale can be found here. Insiders sold 522,067 shares of company stock worth $8,397,932 over the last three months. Corporate insiders own 20.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of YEXT. Capital International Investors acquired a new stake in Yext during the third quarter worth about $44,201,000. Renaissance Technologies LLC grew its holdings in Yext by 159.7% during the third quarter. Renaissance Technologies LLC now owns 2,078,686 shares of the company’s stock worth $49,265,000 after acquiring an additional 1,278,386 shares during the period. Baillie Gifford & Co. acquired a new stake in Yext during the third quarter worth about $22,977,000. Morgan Stanley grew its holdings in Yext by 185.2% during the third quarter. Morgan Stanley now owns 1,009,392 shares of the company’s stock worth $23,922,000 after acquiring an additional 655,428 shares during the period. Finally, BlackRock Inc. grew its holdings in Yext by 11.3% during the fourth quarter. BlackRock Inc. now owns 5,810,456 shares of the company’s stock worth $86,285,000 after acquiring an additional 588,161 shares during the period. 51.93% 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 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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