Yext Inc. (YEXT) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research cut shares of Yext Inc. (NYSE:YEXT) from a hold rating to a sell rating in a research report report published on Thursday, July 13th.
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. “
A number of other analysts also recently weighed in on YEXT. Morgan Stanley reissued an equal weight rating and set a $15.00 target price (up previously from $14.00) on shares of Yext in a research report on Saturday, June 3rd. Piper Jaffray Companies reissued an overweight rating and set a $17.00 target price on shares of Yext in a research report on Saturday, June 3rd. Royal Bank Of Canada reissued a buy rating and set a $18.00 target price on shares of Yext in a research report on Friday, June 2nd. Pacific Crest assumed coverage on shares of Yext in a research report on Monday, May 15th. They set a sector weight rating for the company. Finally, J P Morgan Chase & Co assumed coverage on Yext in a report on Monday, May 15th. They set a neutral rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $16.25.
Shares of Yext (YEXT) opened at 13.67 on Thursday. Yext has a 1-year low of $11.63 and a 1-year high of $15.11. The stock’s market cap is $1.23 billion. The company’s 50-day moving average is $13.25 and its 200 day moving average is $13.42.
Yext (NYSE:YEXT) last released its quarterly earnings data on Thursday, June 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The firm had revenue of $37.10 million during the quarter, compared to analyst estimates of $35.14 million. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities research analysts anticipate that Yext will post ($0.51) EPS for the current year.
Several institutional investors have recently modified their holdings of YEXT. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Yext during the second quarter worth about $400,000. Power Corp of Canada bought a new stake in Yext during the second quarter worth approximately $20,889,000. Kornitzer Capital Management Inc. KS bought a new stake in Yext during the second quarter worth approximately $280,000. Spark Investment Management LLC bought a new stake in Yext during the second quarter worth approximately $1,530,000. Finally, Bank of New York Mellon Corp bought a new stake in Yext during the second quarter worth approximately $429,000. Institutional investors own 2.02% of the company’s stock.
Yext Inc is a knowledge engine provider. Yext puts business on the map. The Yext Knowledge Engine enables companies to manage their digital knowledge in the cloud and sync it to over 100 services in the PowerListings Network, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp.
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