Yext (NYSE:YEXT) Stock Price Down 3.7% - Here's What Happened

Yext, Inc. (NYSE:YEXT - Get Free Report)'s stock price traded down 3.7% during trading on Friday . The company traded as low as $6.25 and last traded at $6.30. 308,210 shares traded hands during trading, a decline of 38% from the average session volume of 500,495 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

A number of research firms have issued reports on YEXT. DA Davidson boosted their price objective on shares of Yext from $5.75 to $7.50 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Roth Mkm reissued a "buy" rating and set a $10.50 target price (up from $7.50) on shares of Yext in a research note on Tuesday, December 10th. Finally, Needham & Company LLC upped their price objective on shares of Yext from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th.

Yext Stock Down 3.2 %

The business has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $6.32. The firm has a market cap of $807.84 million, a P/E ratio of -42.20 and a beta of 1.20.

Hedge Funds Weigh In On Yext

Large investors have recently made changes to their positions in the business. Lynrock Lake LP boosted its stake in Yext by 23.8% in the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company's stock worth $44,231,000 after purchasing an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. raised its holdings in Yext by 86.6% in the second quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company's stock worth $14,704,000 after buying an additional 1,275,348 shares during the last quarter. Tenzing Global Management LLC lifted its stake in shares of Yext by 133.3% in the third quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company's stock worth $14,532,000 after buying an additional 1,200,000 shares in the last quarter. Potrero Capital Research LLC grew its holdings in shares of Yext by 36.0% during 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 during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Yext by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company's stock valued at $25,332,000 after acquiring an additional 526,043 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.