Yext (NYSE:YEXT) Stock Price Down 6%

Yext Inc (NYSE:YEXT)’s share price dropped 6% on Wednesday . The stock traded as low as $19.18 and last traded at $19.23, approximately 818,594 shares changed hands during mid-day trading. A decline of 7% from the average daily volume of 879,219 shares. The stock had previously closed at $20.45.

YEXT has been the topic of several analyst reports. SunTrust Banks reissued a “buy” rating and issued a $30.00 target price on shares of Yext in a research report on Wednesday, May 29th. ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Zacks Investment Research downgraded shares of Yext from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Yext presently has a consensus rating of “Buy” and a consensus target price of $23.50.

The company has a 50-day moving average of $20.58. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -25.30 and a beta of 1.14. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.15.

Yext (NYSE:YEXT) last released its earnings results on Thursday, May 30th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.02. The business had revenue of $68.71 million for the quarter, compared to the consensus estimate of $66.74 million. Yext had a negative net margin of 32.59% and a negative return on equity of 68.88%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Analysts anticipate that Yext Inc will post -0.84 earnings per share for the current fiscal year.

In related news, insider Tom Christopher Dixon sold 4,167 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $22.08, for a total transaction of $92,007.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Howard Lerman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $21.50, for a total transaction of $645,000.00. The disclosure for this sale can be found here. Insiders have sold 663,663 shares of company stock worth $13,400,399 over the last ninety days. 17.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in Yext during the 2nd quarter valued at $99,000. Cubist Systematic Strategies LLC raised its stake in Yext by 22.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,328 shares of the company’s stock valued at $288,000 after purchasing an additional 2,622 shares during the last quarter. Jefferies Group LLC acquired a new position in Yext during the 2nd quarter valued at $266,000. Man Group plc raised its stake in Yext by 21.7% during the 2nd quarter. Man Group plc now owns 152,199 shares of the company’s stock valued at $3,058,000 after purchasing an additional 27,183 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Yext by 21.8% during the 2nd quarter. Bank of America Corp DE now owns 177,799 shares of the company’s stock valued at $3,572,000 after purchasing an additional 31,863 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Yext Company Profile (NYSE:YEXT)

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. 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 knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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