The Vanguard Group, Inc. recently announced the acquisition of new stake in Yext Inc (NYSE:YEXT). The institutional investor has increased its shareholding in the Technology company by 1.36% to 15.01 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 12.06% valued currently at $99.54 million. In addition, BlackRock Fund Advisors raised its holdings by 0.14 million to 7.21 million shares. And D. E. Shaw & Co. LP has lifted its position by 13.33% or 0.52 million shares – to 4.39 million shares.
With over 0.45 million Yext Inc (YEXT) shares trading Friday and a closing price of $5.88 on the day, the dollar volume was approximately $2.67 million. The shares have shown a negative half year performance of -46.10% and its price on 12/22/23 gained nearly 0.68%. Currently, there are 122.33M common shares owned by the public and among those 100.80M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for YEXT have a consensus price objective of $7.83. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $6.50. The average price target is 24.9% above its recent price level and an upside to the estimated low will see the stock gain 9.54% over that period. But an upside of 34.67% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 77 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 61 of these insider trades were purchases, accounting for 772,947 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 273,460 shares.
The top 3 mutual fund holders in Yext Inc are Vanguard Total Stock Market ETF, John Hancock Small Cap Core Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 3.17 million shares of the company’s stock, all valued at over $21.03 million. iShares Russell 2000 ETF bought 1290.0 shares to bring its total holdings to over 2.62 million shares at a value of $17.39 million. iShares Russell 2000 ETF now owns shares totaling to 2.11% of the shares outstanding.
However, the script later moved the day high at 5.89, up 0.68%. The company’s stock has a 5-day price change of 4.81% and -5.92% over the past three months. YEXT shares are trading -9.95% year to date (YTD), with the 12-month market performance down to -7.69% lower. It has a 12-month low price of $5.29 and touched a high of $14.35 over the same period. YEXT has an average intraday trading volume of 1.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.97%, -4.64%, and -28.43% respectively.
Institutional ownership of Yext Inc (NYSE: YEXT) shares accounts for 61.31% of the company’s 122.33M shares outstanding. Mutual fund holders own 32.48%, while other institutional holders and individual stakeholders account for 34.06% and 27.72% respectively.
It has a market capitalization of $729.53M and a beta (3y monthly) value of 1.29. The earnings-per-share (ttm) stands at -$0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.40% over the week and 4.44% over the month.
Analysts forecast that Yext Inc (YEXT) will achieve an EPS of $0.07 for the current quarter, $0.07 for the next quarter and $0.27 for 2025. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 1633.34%, and -10.33% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Yext Inc (YEXT) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the YEXT, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on June 28, 2023, with the firm’s price target at $11.
