Oppenheimer analyst Koji Ikeda reiterated a Buy rating on Yext Inc (YEXT) today and set a price target of $26. The company’s shares closed yesterday at $20.37.
Ikeda said:
“Yext reported solid F4Q results, in our assessment. Highlights include: 1) +33% y/y total revenue growth; 2) big deal and pipeline momentum; and 3) improving net dollar retention, which suggest the business is taking share. On balance, guidance implies contracting operating margins in FY2020 as the business invests for growth, but this may take time for investors to gain comfort with. Bottom line: We won’t reprise our 40- page Initiation Report published in January (1/24/19, $14.03). The key takeaway from the F4Q results is that our thesis that Yext is successfully defining and disrupting a large and underpenetrated Digital Knowledge Management opportunity while growing ~30% is intact, which should lead to more good results in future quarterly reported results. Reiterate Outperform, PT to $26 (from $23).”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 37.0% and a 91.3% success rate. Ikeda covers the Technology sector, focusing on stocks such as BlackLine Inc, SPS Commerce, and Liveperson.
Currently, the analyst consensus on Yext Inc is a Moderate Buy with an average price target of $23.
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The company has a one-year high of $27.19 and a one-year low of $11.70. Currently, Yext Inc has an average volume of 792.1K.
Based on the recent corporate insider activity of 208 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.
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