Yext, Inc. (NYSE:YEXT) Short Interest Up 17.5% in September

Yext, Inc. (NYSE:YEXT) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,160,000 shares, a growth of 17.5% from the August 31st total of 2,690,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 896,100 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. DA Davidson upped their price objective on Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC upgraded shares of Yext from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Thursday, September 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $7.50 price objective (down previously from $8.00) on shares of Yext in a research report on Thursday, September 5th.

Insider Buying and Selling at Yext

In related news, Director Seth H. Waugh purchased 32,600 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $6.65 per share, with a total value of $216,790.00. Following the transaction, the director now owns 153,350 shares of the company’s stock, valued at approximately $1,019,777.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lynrock Lake LP lifted its position in shares of Yext by 23.8% during the second quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after acquiring an additional 1,591,791 shares in the last quarter. Federated Hermes Inc. raised its stake 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 purchasing an additional 1,275,348 shares during the period. Invenomic Capital Management LP lifted its holdings in Yext by 67.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company’s stock worth $9,069,000 after purchasing an additional 603,598 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 worth $25,332,000 after purchasing an additional 526,043 shares during the period. Finally, Circumference Group LLC purchased a new position in Yext during the 4th quarter valued at about $2,503,000. 70.98% of the stock is owned by institutional investors.

Yext Stock Performance

Shares of YEXT traded up $0.20 during mid-day trading on Monday, hitting $6.92. The stock had a trading volume of 852,032 shares, compared to its average volume of 913,557. Yext has a 52 week low of $4.29 and a 52 week high of $7.53. The business has a fifty day moving average price of $5.63 and a 200-day moving average price of $5.49.

Yext (NYSE:YEXT) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $97.90 million for the quarter, compared to the consensus estimate 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 was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, equities research analysts forecast that Yext will post 0.08 EPS for the current year.

Yext Company Profile

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.