Yext (NYSE:YEXT) Hits New 52-Week High - Still a Buy?

Yext, Inc. (NYSE:YEXT - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $8.17 and last traded at $8.15, with a volume of 119550 shares. The stock had previously closed at $7.95.

Analyst Upgrades and Downgrades

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

Yext Stock Performance

The company has a 50-day moving average of $7.10 and a 200-day moving average of $5.92. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -168.20 and a beta of 1.17.

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

Insider Buying and Selling at Yext

In other Yext news, Director Seth H. Waugh acquired 32,600 shares of the stock in a transaction dated Thursday, September 19th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the acquisition, the director now directly owns 153,350 shares of the company's stock, valued at approximately $1,019,777.50. This trade represents a 27.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Lynrock Lake LP grew its stake in Yext by 23.8% in the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company's stock valued at $44,231,000 after purchasing an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Yext by 86.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company's stock worth $14,704,000 after purchasing an additional 1,275,348 shares in the last quarter. Tenzing Global Management LLC boosted its holdings in shares of Yext by 133.3% in the 3rd quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company's stock valued at $14,532,000 after buying an additional 1,200,000 shares during the last quarter. Potrero Capital Research LLC grew its stake in shares of Yext by 36.0% in the third quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company's stock valued at $23,559,000 after buying an additional 900,975 shares in the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Yext by 67.0% during the first quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company's stock worth $9,069,000 after buying an additional 603,598 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Yext Company Profile

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.