Yext (NYSE:YEXT) Downgraded by Zacks Investment Research

Yext (NYSE:YEXT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. SunTrust Banks reiterated a “buy” rating and issued a $30.00 price objective on shares of Yext in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.50.

Shares of NYSE YEXT traded up $0.18 during trading on Friday, reaching $20.53. 592,861 shares of the company traded hands, compared to its average volume of 519,765. The firm’s 50 day moving average price is $20.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $2.31 billion, a PE ratio of -27.01 and a beta of 1.14. Yext has a 52-week low of $12.90 and a 52-week high of $27.19.

Yext (NYSE:YEXT) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. The firm 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 business’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) EPS. As a group, equities research analysts forecast that Yext will post -0.84 EPS for the current fiscal year.

In other Yext news, CFO Steven Cakebread sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jim Steele sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $20.78, for a total transaction of $103,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 675,899 shares of company stock worth $13,769,812. 17.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC bought a new stake in shares of Yext during the first quarter valued at approximately $33,000. Aperio Group LLC purchased a new position in shares of Yext in the second quarter valued at $30,000. Quantamental Technologies LLC purchased a new position in shares of Yext in the first quarter valued at $46,000. Flagship Harbor Advisors LLC grew its holdings in shares of Yext by 4,800.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,450 shares of the company’s stock valued at $53,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Focused Wealth Management Inc purchased a new position in shares of Yext in the second quarter valued at $59,000. Institutional investors own 57.87% of the company’s stock.

About 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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