Yext (NYSE:YEXT) had its target price decreased by Morgan Stanley from $13.00 to $12.00 in a report issued on Friday morning, Analyst Ratings Network reports. Morgan Stanley currently has an underweight rating on the stock.
Separately, Zacks Investment Research cut Yext from a buy rating to a hold rating in a report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $16.75.
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YEXT stock opened at $13.03 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of -19.16 and a beta of 1.40. Yext has a 1 year low of $11.77 and a 1 year high of $20.23. The stock’s fifty day moving average price is $13.18 and its 200-day moving average price is $14.19.
Yext (NYSE:YEXT) last released its quarterly earnings results on Wednesday, September 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $98.12 million for the quarter, compared to the consensus estimate of $95.05 million. Yext had a negative return on equity of 40.41% and a negative net margin of 23.00%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. Sell-side analysts expect that Yext will post -0.7 earnings per share for the current year.
In other Yext news, CAO Darryl Bond sold 2,338 shares of the firm’s stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $13.79, for a total transaction of $32,241.02. Following the sale, the chief accounting officer now directly owns 43,495 shares of the company’s stock, valued at $599,796.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Brian Distelburger sold 75,400 shares of the firm’s stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $15.01, for a total value of $1,131,754.00. Following the sale, the chief operating officer now directly owns 3,046,921 shares in the company, valued at $45,734,284.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,273 shares of company stock worth $2,180,124. 12.40% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings in shares of Yext by 130.0% in the second quarter. Parametric Portfolio Associates LLC now owns 98,845 shares of the company’s stock worth $1,412,000 after purchasing an additional 55,874 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Yext in the second quarter worth about $8,299,000. Marshall Wace North America L.P. bought a new stake in shares of Yext in the second quarter worth about $6,401,000. Morgan Stanley increased its holdings in shares of Yext by 228.9% in the second quarter. Morgan Stanley now owns 1,341,911 shares of the company’s stock worth $19,176,000 after purchasing an additional 933,914 shares during the last quarter. Finally, Walleye Capital LLC grew its position in Yext by 132.5% in the second quarter. Walleye Capital LLC now owns 672,070 shares of the company’s stock worth $9,604,000 after acquiring an additional 383,010 shares in the last quarter. 58.67% of the stock is currently owned by hedge funds and other institutional investors.
Yext Company Profile
Yext, Inc is an emerging growth company engages in software development. It offers a cloud-based digital knowledge platform, which allows businesses manage their digital knowledge in the cloud such as financial information, resources and performance of these resources on a consolidated basis and sync it to other application such as Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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