Needham & Company LLC Reiterates “Buy” Rating for Yext (NYSE:YEXT)

Yext (NYSE:YEXT)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 68.86% from the company’s current price.

Other equities analysts also recently issued research reports about the company. DA Davidson upped their price objective on Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Roth Mkm reaffirmed a “buy” rating and set a $9.50 price objective (down from $10.50) on shares of Yext in a report on Wednesday, February 26th.

Yext Stock Down 3.1 %

YEXT stock opened at $5.92 on Thursday. The firm has a market cap of $749.04 million, a PE ratio of -39.48 and a beta of 1.20. The business has a 50 day moving average of $6.45 and a 200-day moving average of $6.83. Yext has a 12-month low of $4.29 and a 12-month high of $8.75.

Yext (NYSE:YEXT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.20). The company had revenue of $113.09 million during the quarter, compared to analysts’ expectations of $112.77 million. Yext had a negative return on equity of 11.10% and a negative net margin of 4.64%. On average, research analysts expect that Yext will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Yext

A number of large investors have recently modified their holdings of YEXT. Intech Investment Management LLC purchased a new position in Yext during the third quarter worth about $145,000. Charles Schwab Investment Management Inc. grew its position in Yext by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,192,819 shares of the company’s stock worth $8,254,000 after acquiring an additional 47,983 shares in the last quarter. FMR LLC raised its position in Yext by 34.7% during the third quarter. FMR LLC now owns 552,218 shares of the company’s stock valued at $3,821,000 after purchasing an additional 142,149 shares in the last quarter. Verition Fund Management LLC bought a new stake in Yext during the third quarter worth about $289,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Yext by 21.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,171,051 shares of the company’s stock worth $8,104,000 after purchasing an additional 203,179 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Yext Company Profile

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.