Zacks Investment Research Lowers Yext Inc. (YEXT) to Sell

Yext Inc. (NYSE:YEXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other research analysts have also weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 price objective (up previously from $14.00) on shares of Yext in a research report on Saturday, June 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $18.00 price objective on shares of Yext in a research report on Friday, June 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $17.00 target price on shares of Yext in a research note on Monday, August 28th. Finally, BidaskClub upgraded Yext from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Yext has a consensus rating of “Hold” and a consensus price target of $16.25.

Shares of Yext (NYSE YEXT) traded up 0.415% on Tuesday, hitting $13.315. The company had a trading volume of 19,906 shares. The firm’s 50 day moving average price is $13.19 and its 200-day moving average price is $13.38. Yext has a 52 week low of $12.05 and a 52 week high of $15.11. The stock’s market capitalization is $1.20 billion.

Yext (NYSE:YEXT) last posted its quarterly earnings data on Wednesday, September 6th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04). The company had revenue of $40.77 million during the quarter, compared to the consensus estimate of $40.30 million. During the same period in the previous year, the business posted ($0.22) earnings per share. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. Analysts forecast that Yext will post ($0.51) earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC purchased a new stake in Yext during the 2nd quarter valued at $107,196,000. Insight Holdings Group LLC purchased a new stake in Yext during the 2nd quarter valued at $102,783,000. Power Corp of Canada purchased a new stake in Yext during the 2nd quarter valued at $20,889,000. Bamco Inc. NY purchased a new stake in Yext during the 2nd quarter valued at $16,784,000. Finally, Janus Henderson Group PLC purchased a new stake in Yext during the 2nd quarter valued at $14,534,000. Institutional investors and hedge funds own 29.18% of the company’s stock.

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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