Yext (NYSE:YEXT) Upgraded to “Buy” at Zacks Investment Research

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Yext (NYSE:YEXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage currently has a $22.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 7.58% from the company’s current price.

According to Zacks, “Yext, Inc. provides digital media technology services. It offers advertising, monetization, phone and directory services which includes business listings on search sites and real-time reputation management. The Company provides Yext Knowledge Engine. It serves healthcare and pharmaceuticals, retail, financial services, manufacturing and technology industries. Yext, Inc. is based in New York. “

Other equities research analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a “buy” rating and set a $30.00 price objective on shares of Yext in a research report on Wednesday, May 29th. ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Morgan Stanley boosted their price target on shares of Yext from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.57.

Yext stock opened at $20.45 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of -26.91 and a beta of 1.13. Yext has a 12-month low of $12.90 and a 12-month high of $27.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.14 and a quick ratio of 2.14.

Yext (NYSE:YEXT) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. The business had revenue of $68.71 million during the quarter, compared to analysts’ expectations of $66.74 million. Yext had a negative net margin of 32.59% and a negative return on equity of 68.88%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. As a group, sell-side analysts forecast that Yext will post -0.85 earnings per share for the current year.

In related news, President Brian Distelburger sold 11,316 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $22.17, for a total value of $250,875.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tom Christopher Dixon sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $22.16, for a total transaction of $110,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,106,999 shares of company stock valued at $22,996,737. 17.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in YEXT. Ropes Wealth Advisors LLC acquired a new position in shares of Yext during the first quarter worth about $33,000. Quantamental Technologies LLC acquired a new position in shares of Yext during the first quarter worth about $46,000. Flagship Harbor Advisors LLC increased its stake in shares of Yext by 4,800.0% during the first quarter. Flagship Harbor Advisors LLC now owns 2,450 shares of the company’s stock worth $53,000 after acquiring an additional 2,400 shares during the period. Menta Capital LLC acquired a new position in shares of Yext during the first quarter worth about $201,000. Finally, FMR LLC increased its stake in shares of Yext by 10.5% during the fourth quarter. FMR LLC now owns 9,462 shares of the company’s stock worth $141,000 after acquiring an additional 900 shares during the period. 57.88% of the stock is owned by hedge funds and other institutional investors.

About Yext

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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