Principal Financial Group Inc. Increases Stock Holdings in Yext, Inc. (NYSE:YEXT)

Principal Financial Group Inc. lifted its position in Yext, Inc. (NYSE:YEXT) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,438 shares of the company’s stock after purchasing an additional 5,191 shares during the quarter. Principal Financial Group Inc.’s holdings in Yext were worth $378,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Yext in the third quarter valued at about $38,000. KBC Group NV purchased a new stake in shares of Yext in the fourth quarter valued at about $47,000. Quantinno Capital Management LP purchased a new stake in shares of Yext in the third quarter valued at about $76,000. Entropy Technologies LP purchased a new stake in shares of Yext in the fourth quarter valued at about $86,000. Finally, Balboa Wealth Partners purchased a new stake in shares of Yext in the third quarter valued at about $114,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

YEXT has been the subject of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $9.50 target price (down previously from $10.50) on shares of Yext in a research note on Wednesday, February 26th. DA Davidson increased their target price on shares of Yext from $5.75 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Yext in a research note on Thursday.

Yext Price Performance

Shares of YEXT stock opened at $6.24 on Friday. The firm has a market cap of $795.72 million, a PE ratio of -41.57 and a beta of 1.34. The company has a 50-day moving average of $6.52 and a two-hundred day moving average of $6.73. Yext, Inc. has a 1-year low of $4.29 and a 1-year high of $8.75.

Yext (NYSE:YEXT) last issued its quarterly 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). The business had revenue of $113.09 million for the quarter, compared to analyst estimates of $112.77 million. Yext had a negative return on equity of 11.10% and a negative net margin of 4.64%. Sell-side analysts anticipate that Yext, Inc. will post -0.12 EPS for the current fiscal year.

About Yext

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.