Yext (NYSE:YEXT) Shares Gap Down – Here’s What Happened

Shares of Yext (NYSE:YEXT) gapped down before the market opened on Thursday . The stock had previously closed at $5.60, but opened at $4.98. Yext shares last traded at $5.0450, with a volume of 2,070,652 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on YEXT shares. Roth Mkm lowered Yext from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.50 to $6.00 in a report on Wednesday, March 11th. Weiss Ratings downgraded shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. DA Davidson reiterated a “neutral” rating and issued a $6.00 price objective on shares of Yext in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Yext from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, B. Riley Financial dropped their target price on Yext from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Yext currently has an average rating of “Hold” and an average target price of $7.50.

Yext Stock Performance

The company’s 50-day moving average price is $6.19 and its two-hundred day moving average price is $7.68. The company has a market cap of $628.47 million, a P/E ratio of 84.76 and a beta of 1.01. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.

Yext (NYSE:YEXT) last released its earnings results on Monday, March 9th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $114.21 million. Yext had a net margin of 8.48% and a return on equity of 29.61%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. As a group, equities analysts forecast that Yext will post -0.12 earnings per share for the current year.

Institutional Trading of Yext

A number of hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC increased its position in shares of Yext by 147.1% in the fourth quarter. Clearstead Advisors LLC now owns 4,677 shares of the company’s stock worth $38,000 after acquiring an additional 2,784 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Yext in the 3rd quarter worth approximately $48,000. Landscape Capital Management L.L.C. purchased a new position in Yext during the 4th quarter worth approximately $82,000. MQS Management LLC purchased a new position in Yext during the 4th quarter worth approximately $86,000. Finally, Optas LLC acquired a new stake in Yext during the 4th quarter valued at $88,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.