Short Interest in Yext, Inc. (NYSE:YEXT) Drops By 12.4%

Yext, Inc. (NYSE:YEXT) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 1,760,000 shares, a drop of 12.4% from the February 28th total of 2,010,000 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily volume of 746,600 shares, the days-to-cover ratio is currently 2.4 days.

Yext Price Performance

Yext stock opened at $6.11 on Friday. The stock has a market cap of $772.19 million, a price-to-earnings ratio of -40.70 and a beta of 1.20. The firm has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $6.83. Yext has a 1-year low of $4.29 and a 1-year high of $8.75.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on YEXT shares. Roth Mkm restated a “buy” rating and issued a $9.50 price target (down from $10.50) on shares of Yext in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Yext in a report on Thursday. Finally, DA Davidson raised their target price on Yext from $5.75 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th.

Institutional Trading of Yext

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pathstone Holdings LLC purchased a new position in Yext during the fourth quarter worth about $13,026,000. Tenzing Global Management LLC lifted its holdings in shares of Yext by 133.3% in the 3rd quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company’s stock worth $14,532,000 after acquiring an additional 1,200,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Yext by 160.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,758,394 shares of the company’s stock worth $11,183,000 after purchasing an additional 1,082,153 shares during the period. Potrero Capital Research LLC increased its holdings in Yext by 36.0% in the 3rd quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company’s stock valued at $23,559,000 after purchasing an additional 900,975 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Yext by 224.2% in the third quarter. JPMorgan Chase & Co. now owns 515,221 shares of the company’s stock valued at $3,565,000 after purchasing an additional 356,324 shares during the period. 70.98% of the stock is currently owned by hedge funds and other 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.