Yext (NYSE:YEXT) Trading 3% Higher – Time to Buy?

Shares of Yext, Inc. (NYSE:YEXT) shot up 3% during trading on Thursday . The company traded as high as $6.94 and last traded at $6.89. 330,404 shares changed hands during trading, a decline of 64% from the average session volume of 908,975 shares. The stock had previously closed at $6.69.

Analysts Set New Price Targets

Several equities analysts have weighed in on YEXT shares. Roth Mkm reiterated a “buy” rating and issued a $7.50 target price (down from $8.00) on shares of Yext in a report on Thursday, September 5th. Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, September 5th. Finally, DA Davidson raised their target price on Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday, September 5th.

Yext Stock Up 3.9 %

The business’s 50-day simple moving average is $5.79 and its two-hundred day simple moving average is $5.54. The firm has a market capitalization of $876.67 million, a price-to-earnings ratio of -133.90 and a beta of 1.19.

Yext (NYSE:YEXT) last posted its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $97.90 million during the quarter, compared to the consensus estimate of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. Sell-side analysts anticipate that Yext, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Yext

In other Yext news, Director Seth H. Waugh acquired 32,600 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the purchase, the director now owns 153,350 shares in the company, valued at $1,019,777.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of YEXT. Principal Financial Group Inc. grew its position in shares of Yext by 570.9% during the first quarter. Principal Financial Group Inc. now owns 83,667 shares of the company’s stock worth $505,000 after buying an additional 71,196 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Yext by 91.3% in the 1st quarter. Smith Group Asset Management LLC now owns 39,800 shares of the company’s stock valued at $240,000 after purchasing an additional 19,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Yext by 1.6% in the 1st quarter. Russell Investments Group Ltd. now owns 121,487 shares of the company’s stock valued at $733,000 after purchasing an additional 1,861 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Yext by 7.0% during the 1st quarter. First Eagle Investment Management LLC now owns 642,979 shares of the company’s stock worth $3,877,000 after purchasing an additional 42,020 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Yext by 53.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 919,831 shares of the company’s stock worth $5,537,000 after purchasing an additional 321,812 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.