Yext (NYSE:YEXT) Shares Gap Up After Strong Earnings

Yext, Inc. (NYSE:YEXT) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $4.92, but opened at $5.43. Yext shares last traded at $5.48, with a volume of 248,566 shares trading hands.

The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative net margin of 1.51% and a negative return on equity of 4.17%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on YEXT shares. Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $8.00 price target on shares of Yext in a report on Tuesday, June 11th. Finally, DA Davidson lowered their price objective on shares of Yext from $7.25 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, June 11th.

Insider Buying and Selling at Yext

In other Yext news, General Counsel Ho Shin sold 35,000 shares of Yext stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $5.04, for a total value of $176,400.00. Following the completion of the sale, the general counsel now directly owns 125,207 shares in the company, valued at $631,043.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Yext

A number of hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Yext by 20.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,108,423 shares of the company’s stock worth $6,529,000 after acquiring an additional 186,838 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Yext by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,373,576 shares of the company’s stock valued at $19,870,000 after buying an additional 176,063 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Yext by 652.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock valued at $2,056,000 after acquiring an additional 295,658 shares in the last quarter. Circumference Group LLC bought a new stake in shares of Yext in the 4th quarter worth $2,503,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Yext by 56.1% in the fourth quarter. BNP Paribas Financial Markets now owns 217,266 shares of the company’s stock valued at $1,280,000 after purchasing an additional 78,040 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Yext Trading Up 14.6 %

The stock’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $5.44. The firm has a market capitalization of $711.42 million, a P/E ratio of -109.60 and a beta of 1.21.

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.