Yext (NYSE:YEXT) Shares Gap Up Following Insider Buying Activity

Yext, Inc. (NYSE:YEXT - Get Free Report)'s share price gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $6.54, but opened at $6.75. Yext shares last traded at $6.70, with a volume of 63,467 shares trading hands.

Specifically, Director Seth H. Waugh bought 32,600 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the transaction, the director now directly owns 153,350 shares in the company, valued at approximately $1,019,777.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on YEXT shares. Needham & Company LLC upgraded Yext from a "hold" rating to a "buy" rating and set a $8.00 price objective for the company in a research report on Thursday, September 5th. DA Davidson boosted their price target on shares of Yext from $5.50 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Finally, Roth Mkm restated a "buy" rating and issued a $7.50 price objective (down from $8.00) on shares of Yext in a report on Thursday, September 5th.

Yext Stock Performance

The company has a market capitalization of $848.11 million, a price-to-earnings ratio of -136.20 and a beta of 1.17. The company has a 50-day moving average price of $5.48 and a 200-day moving average price of $5.47.

Yext (NYSE:YEXT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The company had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Yext, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Yext

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lynrock Lake LP raised its position in Yext by 23.8% during the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company's stock worth $44,231,000 after acquiring an additional 1,591,791 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Yext by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company's stock worth $25,332,000 after purchasing an additional 526,043 shares during the period. The Manufacturers Life Insurance Company increased its position in Yext by 5.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company's stock worth $19,870,000 after buying an additional 176,063 shares during the last quarter. Federated Hermes Inc. raised its stake in Yext by 86.6% in the second quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company's stock valued at $14,704,000 after buying an additional 1,275,348 shares during the period. Finally, Invenomic Capital Management LP lifted its position in shares of Yext by 67.0% in the first quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company's stock valued at $9,069,000 after buying an additional 603,598 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

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.