Yext, Inc. (NYSE:YEXT) Short Interest Down 17.3% in October

Yext, Inc. (NYSE:YEXT) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,240,000 shares, a drop of 17.3% from the October 15th total of 3,920,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 851,900 shares, the days-to-cover ratio is presently 3.8 days.

Insider Activity

In other news, Director Seth H. Waugh acquired 32,600 shares of Yext stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $6.65 per share, with a total value of $216,790.00. Following the completion of the purchase, the director now owns 153,350 shares of the company’s stock, valued at approximately $1,019,777.50. This represents a 27.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Trading of Yext

Institutional investors have recently added to or reduced their stakes in the business. Williams & Novak LLC bought a new position in shares of Yext in the second quarter valued at approximately $56,000. Canada Pension Plan Investment Board bought a new position in Yext during the 2nd quarter valued at $62,000. Quantinno Capital Management LP acquired a new position in shares of Yext during the 3rd quarter valued at $76,000. Dynamic Advisor Solutions LLC raised its stake in shares of Yext by 27.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,545 shares of the company’s stock worth $83,000 after buying an additional 3,385 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Yext by 36.2% during the second quarter. Harbor Capital Advisors Inc. now owns 18,618 shares of the company’s stock valued at $100,000 after buying an additional 4,946 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

YEXT has been the topic of several research analyst reports. Needham & Company LLC raised Yext from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Thursday, September 5th. DA Davidson boosted their price objective on shares of Yext from $5.50 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $7.50 target price (down previously from $8.00) on shares of Yext in a research note on Thursday, September 5th.

Yext Stock Performance

Shares of YEXT traded down $0.10 during trading on Friday, reaching $7.79. The company’s stock had a trading volume of 478,025 shares, compared to its average volume of 874,903. Yext has a twelve month low of $4.29 and a twelve month high of $8.14. The company has a fifty day moving average of $6.93 and a two-hundred day moving average of $5.82.

Yext (NYSE:YEXT) last issued its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $97.90 million for the quarter, compared to analyst estimates of $98.15 million. Yext had a negative net margin of 1.68% and a negative return on equity of 3.35%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. Analysts forecast that Yext will post 0.08 EPS for the current fiscal year.

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.