Yext (NYSE:YEXT) Trading Up 4.3% – Here’s Why

Yext, Inc. (NYSE:YEXT)’s share price shot up 4.3% during mid-day trading on Tuesday . The company traded as high as $6.50 and last traded at $6.48. 284,286 shares traded hands during trading, a decline of 68% from the average session volume of 893,950 shares. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $10.50 price target (up previously from $7.50) on shares of Yext in a research report on Tuesday, December 10th. DA Davidson boosted their price target on shares of Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC lifted their price objective on shares of Yext from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Yext Stock Up 2.4 %

The stock’s 50 day moving average price is $7.39 and its two-hundred day moving average price is $6.31. The firm has a market capitalization of $811.67 million, a price-to-earnings ratio of -42.40 and a beta of 1.20.

Institutional Investors Weigh In On Yext

Several large investors have recently made changes to their positions in the company. Lynrock Lake LP raised its holdings in shares of Yext by 23.8% during the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock valued at $44,231,000 after purchasing an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Yext by 86.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock valued at $14,704,000 after acquiring an additional 1,275,348 shares during the last quarter. Tenzing Global Management LLC lifted its holdings in Yext by 133.3% in the 3rd quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company’s stock worth $14,532,000 after purchasing an additional 1,200,000 shares during the last quarter. Potrero Capital Research LLC boosted its position in Yext by 36.0% during the third quarter. Potrero Capital Research LLC now owns 3,404,537 shares of the company’s stock worth $23,559,000 after purchasing an additional 900,975 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Yext by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after purchasing an additional 526,043 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

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