DA Davidson Issues Positive Forecast for Yext (NYSE:YEXT) Stock Price

Yext (NYSE:YEXT) had its price objective hoisted by DA Davidson from $7.50 to $8.25 in a research note released on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Roth Mkm reissued a “buy” rating and set a $9.50 price target (down from $10.50) on shares of Yext in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Yext in a report on Wednesday. Finally, B. Riley raised Yext from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $10.00 in a report on Wednesday.

Yext Trading Up 0.9%

NYSE:YEXT opened at $8.88 on Thursday. The stock has a market cap of $1.11 billion, a P/E ratio of -59.20 and a beta of 0.99. The stock has a 50 day simple moving average of $6.55 and a 200 day simple moving average of $6.67. Yext has a 1-year low of $4.29 and a 1-year high of $9.15.

Yext (NYSE:YEXT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.20). The firm had revenue of $113.09 million for the quarter, compared to analyst estimates of $112.77 million. Yext had a negative return on equity of 11.10% and a negative net margin of 4.64%. As a group, sell-side analysts forecast that Yext will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Yext

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Yext by 4.7% in the 1st quarter. Rhumbline Advisers now owns 155,596 shares of the company’s stock valued at $958,000 after acquiring an additional 7,047 shares in the last quarter. Strs Ohio acquired a new position in Yext in the 1st quarter valued at $562,000. Millennium Management LLC acquired a new position in Yext in the 1st quarter valued at $3,964,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Yext by 1.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company’s stock valued at $2,593,000 after acquiring an additional 4,802 shares in the last quarter. Finally, Lynrock Lake LP raised its holdings in Yext by 9.5% in the 1st quarter. Lynrock Lake LP now owns 11,680,363 shares of the company’s stock valued at $71,951,000 after acquiring an additional 1,009,285 shares in the last quarter. 70.98% of the stock is 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.