DA Davidson Issues Positive Forecast for Yext (NYSE:YEXT) Stock Price

Yext (NYSE:YEXT) had its price objective increased by DA Davidson from $5.75 to $7.50 in a research note published on Tuesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on YEXT. Needham & Company LLC increased their target price on Yext from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday. Roth Mkm reiterated a “buy” rating and set a $7.50 target price (down previously from $8.00) on shares of Yext in a research report on Thursday, September 5th.

Yext Price Performance

Shares of NYSE:YEXT opened at $7.06 on Tuesday. Yext has a 1 year low of $4.29 and a 1 year high of $8.75. The firm has a market capitalization of $903.12 million, a price-to-earnings ratio of -141.20 and a beta of 1.20. The business’s 50 day moving average price is $7.53 and its 200-day moving average price is $6.16.

Insiders Place Their Bets

In other Yext news, Director Seth H. Waugh bought 32,600 shares of the stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $6.65 per share, with a total value of $216,790.00. Following the purchase, the director now directly owns 153,350 shares in the company, valued at $1,019,777.50. This trade represents a 27.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Yext

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lynrock Lake LP boosted its position in shares of Yext by 23.8% during the 2nd 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 last quarter. Federated Hermes Inc. boosted its position in shares of Yext by 86.6% during the 2nd 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 last quarter. Tenzing Global Management LLC boosted its position in shares of Yext by 133.3% during the 3rd quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company’s stock valued at $14,532,000 after acquiring an additional 1,200,000 shares during the last quarter. Potrero Capital Research LLC boosted its position in shares of Yext by 36.0% during the 3rd quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company’s stock valued at $23,559,000 after acquiring an additional 900,975 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Yext by 12.5% during the 2nd 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 last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.