Yext (NYSE:YEXT) Stock Price Up 4.3% – Still a Buy?

Yext, Inc. (NYSE:YEXT)’s share price rose 4.3% during mid-day trading on Tuesday . The company traded as high as $6.50 and last traded at $6.48. Approximately 284,286 shares were traded during trading, a decline of 68% from the average daily volume of 893,950 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Several research firms have issued reports on YEXT. Needham & Company LLC upped their price target on shares of Yext from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Roth Mkm reiterated a “buy” rating and set a $10.50 price target (up previously from $7.50) on shares of Yext in a report on Tuesday, December 10th. Finally, DA Davidson upped their price objective on Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, December 10th.

Yext Stock Performance

The company’s fifty day simple moving average is $7.42 and its two-hundred day simple moving average is $6.30. The stock has a market capitalization of $824.43 million, a P/E ratio of -43.07 and a beta of 1.20.

Institutional Trading of Yext

Several hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Yext during the third quarter worth $38,000. Canada Pension Plan Investment Board bought a new position in Yext during the 2nd quarter worth $62,000. Quantinno Capital Management LP acquired a new position in Yext in the 3rd quarter valued at $76,000. Balboa Wealth Partners acquired a new stake in shares of Yext during the 3rd quarter worth $114,000. Finally, Dark Forest Capital Management LP acquired a new position in Yext in the second quarter valued at about $125,000. 70.98% of the stock is owned by institutional investors and hedge funds.

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.