Yext (NYSE:YEXT) Hits New 52-Week High – Here’s Why

Shares of Yext, Inc. (NYSE:YEXT) hit a new 52-week high on Tuesday . The stock traded as high as $8.14 and last traded at $8.08, with a volume of 25101 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

Several research firms have recently commented on YEXT. DA Davidson lifted their price target on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Thursday, September 5th. Needham & Company LLC raised shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Thursday, September 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $7.50 price target (down from $8.00) on shares of Yext in a report on Thursday, September 5th.

Yext Price Performance

The company’s 50-day moving average is $6.88 and its two-hundred day moving average is $5.80.

Yext (NYSE:YEXT) last issued its quarterly earnings data 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. The firm had revenue of $97.90 million for the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. Yext’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. On average, equities analysts predict that Yext, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Seth H. Waugh purchased 32,600 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $216,790.00. Following the transaction, the director now owns 153,350 shares of the company’s stock, valued at $1,019,777.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 8.40% of the stock is owned by insiders.

Institutional Trading of Yext

A number of hedge funds and other institutional investors have recently made changes to their positions in YEXT. Jacobs Levy Equity Management Inc. increased its position in shares of Yext by 652.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 340,958 shares of the company’s stock worth $2,056,000 after acquiring an additional 295,658 shares in the last quarter. Lynrock Lake LP raised its holdings in shares of Yext by 23.8% during the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock valued at $44,231,000 after acquiring an additional 1,591,791 shares during the period. Federated Hermes Inc. raised its holdings in shares of Yext by 86.6% during the second quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock valued at $14,704,000 after acquiring an additional 1,275,348 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Yext by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after acquiring an additional 526,043 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Yext by 53.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 919,831 shares of the company’s stock valued at $5,537,000 after buying an additional 321,812 shares during the period. 70.98% of the stock is currently owned by institutional investors.

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.