Yext (NYSE:YEXT) Hits New 1-Year High – Here’s Why

Yext, Inc. (NYSE:YEXT) reached a new 52-week high during trading on Wednesday . The company traded as high as $7.66 and last traded at $7.59, with a volume of 16731 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

A number of research firms recently weighed in on YEXT. DA Davidson raised their target price on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Thursday, September 5th. Needham & Company LLC raised shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, September 5th. Finally, Roth Mkm restated a “buy” rating and issued a $7.50 price objective (down from $8.00) on shares of Yext in a report on Thursday, September 5th.

Yext Stock Up 5.3 %

The business has a 50-day moving average price of $6.54 and a 200-day moving average price of $5.71. The firm has a market capitalization of $982.43 million, a price-to-earnings ratio of -145.90 and a beta of 1.17.

Yext (NYSE:YEXT) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $97.90 million for the quarter, compared to analyst estimates of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, equities research analysts forecast that Yext, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Seth H. Waugh bought 32,600 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $6.65 per share, with a total value of $216,790.00. Following the transaction, the director now directly owns 153,350 shares in the company, valued at $1,019,777.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Yext

Several large investors have recently modified their holdings of the stock. Balboa Wealth Partners acquired a new position in Yext during the third quarter worth about $114,000. Victory Capital Management Inc. lifted its position in Yext by 38.3% during the third quarter. Victory Capital Management Inc. now owns 69,120 shares of the company’s stock valued at $478,000 after buying an additional 19,152 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Yext in the third quarter valued at about $158,000. GSA Capital Partners LLP acquired a new position in shares of Yext during the third quarter worth $317,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Yext by 18.2% in the third quarter. Harbor Capital Advisors Inc. now owns 22,002 shares of the company’s stock valued at $152,000 after purchasing an additional 3,384 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Yext Company Profile

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.