Yext Inc. (YEXT) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Yext Inc. (NYSE:YEXT) from a hold rating to a sell rating in a report released on Wednesday morning.
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. “
Several other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Yext from a sell rating to a hold rating in a research note on Thursday, September 7th. Piper Jaffray Companies reiterated a buy rating and issued a $17.00 price target on shares of Yext in a research note on Monday, August 28th. Morgan Stanley reissued an equal weight rating and set a $15.00 price objective (up from $14.00) on shares of Yext in a research report on Saturday, June 3rd. Finally, Royal Bank Of Canada reissued a buy rating and set a $18.00 price objective on shares of Yext in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Yext currently has an average rating of Hold and an average price target of $16.25.
Yext (NYSE:YEXT) opened at 13.40 on Wednesday. The stock’s 50 day moving average is $13.19 and its 200-day moving average is $13.38. The firm’s market capitalization is $1.21 billion. Yext has a one year low of $11.63 and a one year high of $15.11.
Yext (NYSE:YEXT) last issued its quarterly earnings results on Wednesday, September 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.04). The company had revenue of $40.77 million for the quarter, compared to the consensus estimate of $40.30 million. Yext’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) EPS. On average, analysts anticipate that Yext will post ($0.51) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new stake in Yext during the 2nd quarter valued at about $1,280,000. California State Teachers Retirement System purchased a new stake in Yext during the 2nd quarter valued at about $287,000. Cubist Systematic Strategies LLC purchased a new stake in Yext during the 2nd quarter valued at about $146,000. State Street Corp purchased a new stake in Yext during the 2nd quarter valued at about $1,739,000. Finally, Janus Henderson Group PLC purchased a new stake in Yext during the 2nd quarter valued at about $14,534,000. 29.24% of the stock is currently owned by 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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