Yext (NYSE:YEXT) Shares Down 11.5%

Yext, Inc. (NYSE:YEXTGet Rating) shares fell 11.5% on Thursday . The stock traded as low as $4.94 and last traded at $4.94. 58,332 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 2,320,266 shares. The stock had previously closed at $5.58.

A number of brokerages have recently issued reports on YEXT. DA Davidson cut shares of Yext from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.50 to $5.25 in a report on Wednesday, March 9th. Truist Financial cut shares of Yext from a “buy” rating to a “hold” rating and reduced their price objective for the company from $17.00 to $6.00 in a report on Wednesday, March 9th. MKM Partners reduced their price objective on shares of Yext from $17.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 10th. Finally, Needham & Company LLC cut shares of Yext from a “buy” rating to a “hold” rating in a report on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.85.

The stock’s 50 day moving average is $5.48 and its 200 day moving average is $7.27.

Yext (NYSE:YEXTGet Rating) last posted its earnings results on Wednesday, June 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Yext had a negative net margin of 25.53% and a negative return on equity of 49.72%. The business had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $96.71 million. During the same period in the prior year, the company posted ($0.14) EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts forecast that Yext, Inc. will post -0.69 EPS for the current year.

In other Yext news, insider David Rudnitsky sold 11,638 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $6.58, for a total value of $76,578.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Darryl Bond sold 7,971 shares of the firm’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $52,449.18. The disclosure for this sale can be found here. Insiders sold a total of 63,875 shares of company stock worth $420,298 over the last quarter. Corporate insiders own 12.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Yext by 17.1% in the first quarter. Vanguard Group Inc. now owns 13,086,232 shares of the company’s stock worth $90,165,000 after buying an additional 1,909,294 shares during the last quarter. BlackRock Inc. grew its stake in shares of Yext by 5.5% in the first quarter. BlackRock Inc. now owns 11,289,862 shares of the company’s stock worth $77,787,000 after acquiring an additional 589,806 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Yext by 12.8% in the fourth quarter. Champlain Investment Partners LLC now owns 9,154,700 shares of the company’s stock worth $90,815,000 after acquiring an additional 1,041,502 shares during the period. Lead Edge Capital Management LLC bought a new stake in shares of Yext in the first quarter worth approximately $48,051,000. Finally, Hawk Ridge Capital Management LP bought a new stake in shares of Yext in the first quarter worth approximately $25,583,000. 61.35% of the stock is owned by institutional investors.

Yext Company Profile (NYSE:YEXT)

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 provide answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews, as well as provides customers to update their information and content through its knowledge network of approximately 200 maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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