Yext (NYSE:YEXT) Stock Jumps 0.8% – Here’s What Happened

Yext (NYSE:YEXT) shot up 0.8% during mid-day trading on Monday. The company traded as high as $7.43 and last traded at $7.41. 901,847 shares were traded during trading, an increase of 23% from the average daily volume of 733,784 shares. The stock had previously closed at $7.35.

Wall Street Analysts Forecast Growth

YEXT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Yext from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. Weiss Ratings raised shares of Yext from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Zacks Research lowered shares of Yext from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, B. Riley Financial restated a “neutral” rating on shares of Yext in a report on Wednesday, September 2nd. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.33.

Yext Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.14. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $5.39. The firm has a market capitalization of $724.04 million, a price-to-earnings ratio of 43.03 and a beta of 1.14.

Yext (NYSE:YEXT) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $111.10 million during the quarter, compared to analysts’ expectations of $111.30 million. Yext had a net margin of 5.90% and a return on equity of 43.23%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. On average, analysts predict that Yext will post 0.46 earnings per share for the current year.

Insider Transactions at Yext

In other Yext news, General Counsel Ho Shin sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $6.39, for a total transaction of $191,700.00. Following the transaction, the general counsel owned 289,269 shares of the company’s stock, valued at $1,848,428.91. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Yext

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE bought a new position in Yext during the second quarter worth $3,359,000. Lead Edge Capital Management LLC acquired a new position in shares of Yext in the second quarter valued at $36,628,192. BlackRock Inc. bought a new position in shares of Yext in the second quarter valued at about $34,536,000. Pacer Advisors Inc. bought a new position in shares of Yext in the first quarter valued at about $1,503,000. Finally, Dimensional Fund Advisors LP lifted its position in Yext by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,131,636 shares of the company’s stock worth $8,185,000 after acquiring an additional 373,953 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Yext Company Profile

Yext, Inc is a technology company that helps organizations manage and improve their digital presence across search engines, websites, maps, social networks and other online services. Its platform is designed to provide accurate, consistent and up-to-date information about businesses, products, locations and services across digital channels.

Yext’s offerings include tools for managing business listings, location and entity data, website content, customer reviews and digital search experiences.