DA Davidson Cuts Yext (NYSE:YEXT) Price Target to $6.00

Yext (NYSE:YEXT) had its price objective cut by equities researchers at DA Davidson from $8.25 to $6.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 19.76% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Yext from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Weiss Ratings downgraded shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.88.

Yext Stock Down 4.4%

Shares of Yext stock traded down $0.23 during trading on Wednesday, reaching $5.01. 2,979,404 shares of the company traded hands, compared to its average volume of 1,200,028. Yext has a 1-year low of $4.91 and a 1-year high of $9.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $614.38 million, a PE ratio of -500.50 and a beta of 0.98. The company has a 50 day moving average price of $7.99 and a 200-day moving average price of $8.33.

Yext (NYSE:YEXT) last issued its earnings results on Monday, December 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $112.00 million during the quarter, compared to the consensus estimate of $113.07 million. Yext had a return on equity of 18.57% and a net margin of 5.89%.The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. As a group, equities research analysts expect that Yext will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Yext by 1.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company’s stock valued at $2,593,000 after acquiring an additional 4,802 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Yext in the first quarter valued at $3,964,000. 111 Capital bought a new position in shares of Yext during the second quarter valued at approximately $100,000. CWM LLC increased its stake in Yext by 50.5% in the second quarter. CWM LLC now owns 14,574 shares of the company’s stock worth $124,000 after purchasing an additional 4,893 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Yext in the 2nd quarter worth about $521,000. Institutional investors own 70.98% of the company’s stock.

About Yext

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.