Yext (NYSE:YEXT) Given New $6.00 Price Target at DA Davidson

Yext (NYSE:YEXT) had its price objective lowered by research analysts at DA Davidson from $8.25 to $6.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target indicates a potential upside of 19.76% from the company’s previous close.

YEXT has been the topic of a number of other research reports. Wall Street Zen upgraded Yext from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Weiss Ratings cut shares of Yext from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Yext presently has a consensus rating of “Hold” and a consensus target price of $8.88.

Yext Trading Down 4.4%

Shares of NYSE YEXT traded down $0.23 during midday trading on Wednesday, hitting $5.01. The stock had a trading volume of 2,979,404 shares, compared to its average volume of 1,200,028. The company’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $8.33. 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 cap of $614.38 million, a P/E ratio of -500.50 and a beta of 0.98. Yext has a fifty-two week low of $4.91 and a fifty-two week high of $9.20.

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

Hedge Funds Weigh In On Yext

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Yext by 1.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company’s stock worth $2,593,000 after purchasing an additional 4,802 shares during the period. Millennium Management LLC acquired a new position in Yext in the 1st quarter valued at $3,964,000. 111 Capital bought a new stake in Yext during the second quarter worth about $100,000. CWM LLC lifted its stake in Yext by 50.5% during 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 last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Yext in the 2nd quarter valued at approximately $521,000. 70.98% of the stock is owned by institutional investors.

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.