Yext (NYSE:YEXT) Downgraded to Hold Rating by Zacks Research

Yext (NYSE:YEXT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

YEXT has been the subject of several other research reports. Wall Street Zen cut Yext from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings raised shares of Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.67.

Yext Stock Performance

Shares of NYSE YEXT opened at $6.03 on Monday. The stock has a fifty day moving average price of $5.03 and a two-hundred day moving average price of $4.70. The company has a debt-to-equity ratio of 6.03, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $604.01 million, a P/E ratio of 86.07 and a beta of 1.13. Yext has a 1 year low of $3.27 and a 1 year high of $9.20.

Insiders Place Their Bets

In related news, Director Seth H. Waugh bought 133,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $3.75 per share, for a total transaction of $498,750.00. Following the acquisition, the director directly owned 319,411 shares of the company’s stock, valued at $1,197,791.25. The trade was a 71.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel J. Englander bought 76,190 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were bought at an average cost of $5.22 per share, for a total transaction of $397,711.80. Following the completion of the transaction, the director directly owned 141,190 shares of the company’s stock, valued at $737,011.80. This trade represents a 117.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Yext

A number of institutional investors have recently bought and sold shares of YEXT. Public Employees Retirement System of Ohio purchased a new position in Yext in the 2nd quarter worth about $31,000. Bank of America Corp DE acquired a new position in shares of Yext in the second quarter worth about $3,359,000. Hsbc Holdings PLC purchased a new position in shares of Yext in the second quarter worth approximately $160,000. Canada Pension Plan Investment Board acquired a new stake in shares of Yext during the second quarter valued at approximately $122,000. Finally, Lead Edge Capital Management LLC acquired a new stake in shares of Yext during the second quarter valued at approximately $36,628,192,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.