Zacks Investment Research Lowers Yext Inc. (YEXT) to Sell
Zacks Investment Research lowered shares of Yext Inc. (NYSE:YEXT) from a hold rating to a sell rating in a report issued on Wednesday.
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. “
YEXT has been the subject of several other research reports. Piper Jaffray Companies restated a buy rating and issued a $17.00 target price on shares of Yext in a research note on Monday, August 28th. BidaskClub raised Yext from a sell rating to a hold rating in a report on Thursday, September 7th. Morgan Stanley reaffirmed an equal weight rating and issued a $15.00 price target (up previously from $14.00) on shares of Yext in a report on Saturday, June 3rd. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $18.00 price target on shares of Yext in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $16.25.
Yext (NYSE YEXT) opened at 13.40 on Wednesday. The firm’s market cap is $1.21 billion. Yext has a 52 week low of $12.05 and a 52 week high of $15.11. The firm’s 50-day moving average price is $13.19 and its 200 day moving average price is $13.38.
Yext (NYSE:YEXT) last issued its earnings results on Wednesday, September 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The business had revenue of $40.77 million during the quarter, compared to analyst estimates of $40.30 million. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts forecast that Yext will post ($0.51) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in YEXT. Power Corp of Canada purchased a new stake in shares of Yext in the 2nd quarter valued at about $20,889,000. Spark Investment Management LLC purchased a new stake in shares of Yext in the 2nd quarter valued at about $1,530,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Yext in the 2nd quarter valued at about $280,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Yext in the 2nd quarter valued at about $400,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Yext in the 2nd quarter valued at about $933,000. 29.24% of the stock is currently owned by hedge funds and other institutional investors.
Yext Company Profile
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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