Yext (NYSE:YEXT) had its price objective upped by analysts at Morgan Stanley from $15.00 to $16.00 in a research report issued to clients and investors on Thursday. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 27.11% from the stock’s current price.
A number of other research firms have also recently weighed in on YEXT. KeyCorp restated a “hold” rating on shares of Yext in a report on Thursday, November 29th. Zacks Investment Research upgraded shares of Yext from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. Berenberg Bank began coverage on shares of Yext in a report on Friday, November 16th. They issued a “buy” rating and a $25.00 price target on the stock. SunTrust Banks restated a “buy” rating and issued a $28.00 price target on shares of Yext in a report on Friday, December 14th. Finally, DA Davidson lowered their price target on shares of Yext to $24.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Yext currently has an average rating of “Buy” and a consensus price target of $22.71.
Yext stock traded up $1.58 during midday trading on Thursday, hitting $21.95. 172,501 shares of the company’s stock were exchanged, compared to its average volume of 801,095. Yext has a 12 month low of $11.70 and a 12 month high of $27.19. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -25.85 and a beta of 0.77.
In related news, insider Jim Steele sold 11,174 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $13.35, for a total value of $149,172.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tom Christopher Dixon sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $15.56, for a total transaction of $77,800.00. The disclosure for this sale can be found here. Insiders sold a total of 477,067 shares of company stock valued at $7,519,132 over the last quarter. 20.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of YEXT. Edge Wealth Management LLC acquired a new stake in shares of Yext during the fourth quarter worth $92,000. FMR LLC raised its stake in shares of Yext by 10.5% during the 4th quarter. FMR LLC now owns 9,462 shares of the company’s stock worth $141,000 after buying an additional 900 shares during the last quarter. New World Advisors LLC acquired a new position in shares of Yext during the 4th quarter worth $164,000. Cim Investment Mangement Inc. acquired a new position in shares of Yext during the 4th quarter worth $165,000. Finally, Amalgamated Bank acquired a new position in shares of Yext during the 4th quarter worth $177,000. 51.93% of the stock is currently owned by hedge funds and other institutional investors.
Yext Company Profile
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
Further Reading: Hedge Funds Explained
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