Needham & Company LLC Reiterates 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 research note issued to investors on Thursday,Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 54.20% from the stock's current price.

YEXT has been the topic of a number of other research reports. DA Davidson increased their price target on Yext from $5.75 to $7.50 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Roth Mkm reissued a "buy" rating and issued a $10.50 price target (up from $7.50) on shares of Yext in a report on Tuesday, December 10th.

Yext Price Performance

NYSE YEXT traded up $0.02 during trading on Thursday, reaching $6.49. 348,583 shares of the company's stock were exchanged, compared to its average volume of 858,558. The business has a 50 day moving average price of $7.25 and a 200-day moving average price of $6.41. The stock has a market capitalization of $827.62 million, a P/E ratio of -43.03 and a beta of 1.26. Yext has a fifty-two week low of $4.29 and a fifty-two week high of $8.75.

Hedge Funds Weigh In On Yext

Several institutional investors and hedge funds have recently modified their holdings of the business. Zacks Investment Management boosted its holdings in Yext by 370.2% in the 3rd quarter. Zacks Investment Management now owns 378,415 shares of the company's stock valued at $2,619,000 after purchasing an additional 297,938 shares during the period. Lynrock Lake LP boosted its stake in shares of 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 buying an additional 1,591,791 shares during the period. Geode Capital Management LLC grew its position in Yext by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,384,867 shares of the company's stock worth $16,507,000 after buying an additional 38,305 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Yext by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company's stock worth $25,332,000 after acquiring an additional 526,043 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in Yext in the 2nd quarter valued at $936,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.