Yext (NYSE:YEXT) Sees Unusually-High Trading Volume on Analyst Upgrade

Yext, Inc. (NYSE:YEXT) saw unusually-high trading volume on Friday after DA Davidson raised their price target on the stock from $5.50 to $5.75. DA Davidson currently has a neutral rating on the stock. Approximately 742,092 shares changed hands during trading, a decline of 17% from the previous session’s volume of 899,094 shares.The stock last traded at $6.19 and had previously closed at $5.56.

YEXT has been the subject of a number of other reports. Roth Mkm reissued a “buy” rating and set a $8.00 price objective on shares of Yext in a research note on Tuesday, June 11th. 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 note on Thursday.

Insiders Place Their Bets

In other news, General Counsel Ho Shin sold 35,000 shares of the business’s 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 sale, the general counsel now directly owns 125,207 shares of the company’s stock, valued at approximately $631,043.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Yext

Several institutional investors have recently made changes to their positions in the stock. Lynrock Lake LP lifted its holdings in Yext by 23.8% in the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after buying an additional 1,591,791 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after purchasing an additional 526,043 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Yext by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company’s stock valued at $19,870,000 after purchasing an additional 176,063 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Yext by 86.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock valued at $14,704,000 after purchasing an additional 1,275,348 shares in the last quarter. Finally, Invenomic Capital Management LP raised its stake in shares of Yext by 67.0% in the 1st quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company’s stock valued at $9,069,000 after purchasing an additional 603,598 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Yext Trading Up 11.9 %

The business’s 50-day moving average is $5.24 and its two-hundred day moving average is $5.44. The firm has a market cap of $784.59 million, a P/E ratio of -124.40 and a beta of 1.17.

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

About Yext

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.