Yext (NYSE:YEXT) cut to “hold” at Zacks Investment Research

Yext (NYSE:YEXT – Get a rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released Wednesday to clients and investors, Zacks.com reports.

According to Zacks, “Yext, Inc. provides digital media technology services. It offers advertising, monetization, telephony and directory services that include business listings on search sites and content management. reputation in real time. The company provides Yext Knowledge Engine. It serves the healthcare and pharmaceutical, retail, financial services, manufacturing and technology industries. Yext, Inc. is based in New York City.”

A number of other equity research analysts have also weighed in on YEXT recently. Truist Financial downgraded Yext from a “buy” rating to a “hold” rating and lowered its price target for the company from $17.00 to $6.00 in a Wednesday, March 9 report. DA Davidson downgraded Yext shares from a “buy” rating to a “neutral” rating and reduced their target price for the company from $16.50 to $5.25 in a Wednesday, March 9 research note. Needham & Company LLC downgraded Yext shares from a “buy” rating to a “hold” rating in a Wednesday, March 9 report. Finally, MKM Partners lowered its price target on Yext shares from $17.00 to $8.00 and set a “neutral” rating for the company in a Thursday, March 10 report. One analyst rated the stock with a sell rating and five issued a hold rating for the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.29.

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Shares of NYSE:YEXT traded at $0.56 on Wednesday, hitting $6.61. 100,963 shares of the company were traded, against an average volume of 2,094,557. Yext has a 1-year low of $4.26 and a 1-year high of $16.64. The company has a market capitalization of $857.34 million, a price-earnings ratio of -9.47 and a beta of 1.49. The company’s 50-day moving average price is $7.72 and its two-hundred-day moving average price is $10.23.

Yext (NYSE:YEXT – Get a rating) last reported quarterly earnings data on Tuesday, March 8. The company reported ($0.03) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($0.08) by $0.05. The company posted revenue of $100.93 million for the quarter, versus analyst estimates of $101.04 million. Yext posted a negative return on equity of 41.14% and a negative net margin of 23.17%. Yext’s revenue for the quarter increased 9.5% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of ($0.15). As a group, equity analysts expect Yext to post -0.78 EPS for the current year.

In related news, CAD Daryl Bond sold 8,130 shares in a trade on Monday, December 20. The shares were sold at an average price of $10.37, for a total transaction of $84,308.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, General Counsel Ho Shin sold 5,824 shares of the company in a transaction that took place on Monday, December 20. The shares were sold at an average price of $10.37, for a total value of $60,394.88. Disclosure of this sale can be found here. Insiders sold a total of 105,258 shares of the company valued at $932,155 over the past three months. Insiders of the company own 12.40% of the shares of the company.

Major investors have recently increased or reduced their stakes in the company. Raymond James & Associates increased its stake in Yext by 2.2% in Q3. Raymond James & Associates now owns 38,030 shares of the company valued at $458,000 after acquiring 827 additional shares during the period. Arizona State Retirement System increased its holdings in Yext by 3.4% in Q3. Arizona State Retirement System now owns 27,480 shares of the company valued at $331,000 after buying 892 additional shares last quarter. Victory Capital Management Inc. increased its position in Yext shares by 1.6% in the third quarter. Victory Capital Management Inc. now owns 79,742 shares of the company valued at $959,000 after acquiring an additional 1,287 shares during the period. Voya Investment Management LLC increased its stake in Yext by 3.0% in Q3. Voya Investment Management LLC now owns 44,850 shares of the company worth $540,000 after buying 1,288 additional shares in the last quarter. Finally, Berman Capital Advisors LLC increased its position in Yext shares by 137.1% during the third quarter. Berman Capital Advisors LLC now owns 2,295 shares of the company worth $27,000 after buying 1,327 additional shares in the last quarter. Hedge funds and other institutional investors hold 68.68% of the company’s shares.

About Yext (Get a rating)

Yext, Inc is an emerging and growing company engaged in software development. It offers a cloud-based digital knowledge platform, which allows companies to manage their digital knowledge in the cloud such as financial information, resources and performance of these resources on a consolidated basis and synchronize them with other companies. other applications such as Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.

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Analyst Recommendations for Yext (NYSE: YEXT)

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