Yext (YEXT) Coverage Initiated by Analysts at Berenberg Bank
Berenberg Bank began coverage on shares of Yext (NYSE:YEXT) in a research note issued to investors on Friday, November 16th, MarketBeat reports. The firm set a “buy” rating and a $25.00 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 60.77% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. DA Davidson started coverage on Yext in a research report on Monday, October 8th. They issued a “buy” rating and a $28.00 price objective on the stock. SunTrust Banks started coverage on Yext in a research report on Monday, August 13th. They issued a “buy” rating on the stock. Morgan Stanley reaffirmed a “hold” rating and issued a $26.00 price objective (up from $15.00) on shares of Yext in a research report on Tuesday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Yext in a research report on Thursday, August 30th. Finally, Zacks Investment Research cut Yext from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $22.00.
Shares of YEXT traded up $0.03 during mid-day trading on Friday, reaching $15.55. The company had a trading volume of 869,239 shares, compared to its average volume of 1,092,945. Yext has a 52 week low of $10.58 and a 52 week high of $27.19. The stock has a market cap of $1.57 billion, a P/E ratio of -18.29 and a beta of 1.46.
In other Yext news, President Brian Distelburger sold 1,318 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $24.87, for a total transaction of $32,778.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tom Christopher Dixon sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $26.08, for a total transaction of $326,000.00. The disclosure for this sale can be found here. Insiders sold a total of 871,894 shares of company stock worth $17,708,081 over the last ninety days. 20.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in YEXT. BlackRock Inc. raised its stake in Yext by 297.0% during the 2nd quarter. BlackRock Inc. now owns 5,147,131 shares of the company’s stock valued at $99,546,000 after buying an additional 3,850,702 shares during the last quarter. Capital International Investors purchased a new stake in Yext during the 3rd quarter valued at $44,201,000. Renaissance Technologies LLC raised its stake in Yext by 159.7% during the 3rd quarter. Renaissance Technologies LLC now owns 2,078,686 shares of the company’s stock valued at $49,265,000 after buying an additional 1,278,386 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in Yext during the 3rd quarter valued at $22,977,000. Finally, Northern Trust Corp raised its stake in Yext by 279.7% during the 2nd quarter. Northern Trust Corp now owns 914,499 shares of the company’s stock valued at $17,686,000 after buying an additional 673,620 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.
Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud in North America and Europe. 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 PowerListings Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.
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