Needham & Company LLC Reaffirms “Buy” Rating for Yext (NYSE:YEXT)

Yext (NYSE:YEXT)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 54.32% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $10.50 price objective (up previously from $7.50) on shares of Yext in a research note on Tuesday, December 10th. DA Davidson raised their price objective on shares of Yext from $5.75 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, December 10th.

Yext Trading Down 0.8 %

NYSE:YEXT opened at $6.48 on Thursday. Yext has a 12-month low of $4.29 and a 12-month high of $8.75. The firm has a market cap of $826.98 million, a PE ratio of -43.20 and a beta of 1.26. The stock has a fifty day moving average price of $7.25 and a 200 day moving average price of $6.41.

Hedge Funds Weigh In On Yext

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lynrock Lake LP boosted its stake in Yext by 23.8% in the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock valued at $44,231,000 after acquiring an additional 1,591,791 shares in the last quarter. Tenzing Global Management LLC increased its holdings in shares of Yext by 133.3% in the third quarter. Tenzing Global Management LLC now owns 2,100,000 shares of the company’s stock valued at $14,532,000 after purchasing an additional 1,200,000 shares during the period. Potrero Capital Research LLC lifted its holdings in shares of 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. The Manufacturers Life Insurance Company grew its position in Yext by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after buying an additional 526,043 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Yext by 224.2% during the third quarter. JPMorgan Chase & Co. now owns 515,221 shares of the company’s stock worth $3,565,000 after acquiring an additional 356,324 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

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.