In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Yext Inc (YEXT), with a price target of $28. The company’s shares opened today at $15.38.
Khan wrote:
“We walked away feeling incrementally more bullish on execution and the growth prospects, given the pace of new enterprise wins, with the momentum likely to be sustained over the near/medium term, driven by growing sales headcount/productivity and increasing customer spend. The strength in enterprise should be supplemented by a build-out of mid-size focused sales, which the company is undertaking. We view a slowdown in deferred rev growth in 3Q as transitory and see the recent pullback in the stock as an opportunity to own a differentiated growth story, trading at an attractive 4.8x fwd revs. Focus squarely on Enterprise and mid/size category; Momentum building. Yext’s focus on overhauling sales talent is finally starting to show up in the numbers and visible in the pace of new logo wins (~80 in 3Q18 vs ~55 in the year ago period).”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 18.5% and a 68.2% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and trivago NV.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Yext Inc with a $23 average price target, which is a 49.5% upside from current levels. In a report issued on December 3, D.A. Davidson also maintained a Buy rating on the stock with a $24 price target.
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The company has a one-year high of $27.19 and a one-year low of $10.58. Currently, Yext Inc has an average volume of 1.09M.
Based on the recent corporate insider activity of 212 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of YEXT in relation to earlier this year.
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Yext, Inc. is an emerging growth company engages in software development. It offers a cloud-based digital knowledge platform which allows businesses manage their digital knowledge in the cloud such as financial information, resources and performance of these resources on a consolidated basis and sync it to other application such as Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp. It offers the Yext Knowledge Engine package on subscription basis which has an access to Listings, Pages, Reviews and other features. The Listing feature provides customers with control over their digital presence, including their location and other related attributes published on the used third-party applications. The Pages feature allows customers to establish landing pages on their own websites and to manage digital content on those sites, including calls to action. The Reviews presence enables customers to encourage and facilitate reviews from end consumers. The company was founded by Howard Lerman, Brent Metz, and Brian Distelburger in 2006 and is headquartered in New York, NY.
