Needham & Company LLC Upgrades Yext (NYSE:YEXT) to Buy

Yext (NYSE:YEXT) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $8.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 28.62% from the stock’s previous close.

Several other research firms have also recently weighed in on YEXT. DA Davidson cut their target price on shares of Yext from $7.25 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Roth Mkm reissued a “buy” rating and set a $8.00 price objective on shares of Yext in a report on Tuesday, June 11th.

Yext Stock Up 11.9 %

Shares of Yext stock opened at $6.22 on Thursday. The company has a market capitalization of $784.59 million, a price-to-earnings ratio of -124.40 and a beta of 1.17. The stock’s 50-day simple moving average is $5.24 and its 200-day simple moving average is $5.44. Yext has a 52 week low of $4.29 and a 52 week high of $7.59.

Yext (NYSE:YEXT) last issued its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. Yext had a negative return on equity of 3.44% and a negative net margin of 1.68%. The company had revenue of $97.90 million for the quarter, compared to the consensus estimate of $98.15 million. During the same quarter last year, the company earned ($0.03) EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts expect that Yext will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other Yext news, General Counsel Ho Shin sold 35,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $5.04, for a total transaction of $176,400.00. Following the completion of the transaction, the general counsel now owns 125,207 shares in the company, valued at $631,043.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Yext

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YEXT. Williams & Novak LLC bought a new position in shares of Yext during the 2nd quarter valued at approximately $56,000. Canada Pension Plan Investment Board purchased a new position in Yext during the second quarter worth $62,000. Victory Capital Management Inc. increased its position in Yext by 23.1% during the fourth quarter. Victory Capital Management Inc. now owns 13,587 shares of the company’s stock valued at $80,000 after acquiring an additional 2,547 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Yext by 27.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock valued at $83,000 after acquiring an additional 3,385 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Yext by 36.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock worth $100,000 after acquiring an additional 4,946 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.