Needham & Company LLC Reaffirms "Buy" Rating for Yext (NYSE:YEXT)

Yext (NYSE:YEXT - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC's target price suggests a potential upside of 60.38% from the stock's current price.

Several other research firms have also recently weighed in on YEXT. DA Davidson upped their price objective on shares of Yext from $5.75 to $7.50 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Roth Mkm reaffirmed a "buy" rating and set a $9.50 price objective (down previously from $10.50) on shares of Yext in a research report on Wednesday, February 26th.

Yext Stock Performance

Shares of YEXT stock traded down $0.06 on Thursday, hitting $6.24. The company's stock had a trading volume of 884,589 shares, compared to its average volume of 678,188. The stock's 50 day moving average is $6.52 and its 200-day moving average is $6.73. Yext has a fifty-two week low of $4.29 and a fifty-two week high of $8.75. The company has a market capitalization of $795.72 million, a PE ratio of -41.57 and a beta of 1.34.

Yext (NYSE:YEXT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.20). Yext had a negative net margin of 4.64% and a negative return on equity of 11.10%. The business had revenue of $113.09 million during the quarter, compared to analyst estimates of $112.77 million. On average, research analysts forecast that Yext will post -0.12 earnings per share for the current year.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of Yext by 18.2% in the third quarter. Harbor Capital Advisors Inc. now owns 22,002 shares of the company's stock worth $152,000 after acquiring an additional 3,384 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Yext by 1.8% in the fourth quarter. Summit Trail Advisors LLC now owns 188,039 shares of the company's stock worth $1,196,000 after acquiring an additional 3,409 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Yext by 2.6% in the fourth quarter. Rhumbline Advisers now owns 148,549 shares of the company's stock worth $945,000 after acquiring an additional 3,813 shares during the last quarter. Magnetar Financial LLC lifted its holdings in shares of Yext by 17.3% in the fourth quarter. Magnetar Financial LLC now owns 28,766 shares of the company's stock worth $183,000 after acquiring an additional 4,245 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Yext by 7.7% in the fourth quarter. Amundi now owns 59,877 shares of the company's stock worth $391,000 after acquiring an additional 4,284 shares during the last quarter. Institutional investors 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.