Raymond James Financial Inc. Buys New Position in Yext, Inc. (NYSE:YEXT)

Raymond James Financial Inc. purchased a new stake in Yext, Inc. (NYSE:YEXT) during the 4th quarter, HoldingsChannel reports. The firm purchased 348,944 shares of the company’s stock, valued at approximately $2,219,000.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Yext by 160.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,758,394 shares of the company’s stock worth $11,183,000 after purchasing an additional 1,082,153 shares during the period. JPMorgan Chase & Co. raised its stake in Yext by 224.2% in the third quarter. JPMorgan Chase & Co. now owns 515,221 shares of the company’s stock worth $3,565,000 after buying an additional 356,324 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Yext in the fourth quarter worth about $1,336,000. Vanguard Group Inc. boosted its position in Yext by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 15,865,674 shares of the company’s stock valued at $100,906,000 after acquiring an additional 204,329 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Yext by 28.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 848,984 shares of the company’s stock worth $5,400,000 after acquiring an additional 186,639 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Yext Stock Up 0.1 %

YEXT opened at $6.80 on Thursday. The stock has a market capitalization of $860.10 million, a price-to-earnings ratio of -45.33 and a beta of 1.20. The firm has a 50 day moving average price of $6.23 and a 200-day moving average price of $6.76. Yext, Inc. has a twelve month low of $4.29 and a twelve month high of $8.75.

Yext (NYSE:YEXT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.20). The company had revenue of $113.09 million for the quarter, compared to the consensus estimate of $112.77 million. Yext had a negative net margin of 4.64% and a negative return on equity of 11.10%. As a group, analysts expect that Yext, Inc. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on YEXT. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Yext in a report on Thursday, April 3rd. Roth Mkm reissued a “buy” rating and set a $9.50 price target (down from $10.50) on shares of Yext in a research report on Wednesday, February 26th.

Yext 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.