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

Yext, Inc. (NYSE:YEXT)’s share price hit a new 52-week high on Monday . The stock traded as high as $8.75 and last traded at $8.75, with a volume of 236 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on YEXT shares. Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Thursday, September 5th. Roth Mkm reissued a “buy” rating and set a $7.50 price target (down previously from $8.00) on shares of Yext in a research report on Thursday, September 5th. Finally, DA Davidson lifted their target price on shares of Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday, September 5th.

Yext Stock Up 5.9 %

The firm has a 50-day moving average price of $7.29 and a 200 day moving average price of $6.02. The firm has a market capitalization of $1.12 billion, a PE ratio of -165.20 and a beta of 1.20.

Yext (NYSE:YEXT) last released its 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. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The company had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. During the same period in the previous year, the company posted ($0.03) EPS. Yext’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts expect that Yext, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Yext

In related news, Director Seth H. Waugh acquired 32,600 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the acquisition, the director now owns 153,350 shares in the company, valued at $1,019,777.50. This trade represents a 27.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Yext

Several hedge funds and other institutional investors have recently bought and sold shares of YEXT. Lynrock Lake LP lifted 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 buying an additional 1,591,791 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after purchasing an additional 526,043 shares during the last quarter. Potrero Capital Research LLC boosted its stake in Yext by 36.0% during the 3rd quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company’s stock worth $23,559,000 after purchasing an additional 900,975 shares during the period. Federated Hermes Inc. grew its position in 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in Yext by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,384,867 shares of the company’s stock worth $16,507,000 after purchasing an additional 38,305 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.