In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Yext Inc (YEXT), with a price target of $30. The company’s shares closed last Monday at $17.50.
Khan said:
“We hosted investor meetings with Yext last week in Chicago and walked away positively inclined on the secular growth story. We believe that Yext remains in early stages of the growth cycle and should also benefit in 2020/beyond from new growth initiatives, such as build-out of mid-size sales and the recently debuted Answers product. As these initiatives take hold and the direct/in-direct exposure to small businesses diminishes, we’d view it positively for key metrics, which along with margin improvement from rising scale, would bode well for the stock. We reit our BUY/$30 PT.”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 18.0% and a 70.9% 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 Strong Buy analyst consensus rating for Yext Inc with a $27 average price target, representing a 51.9% upside. In a report issued on September 4, Berenberg Bank also reiterated a Buy rating on the stock with a $27 price target.
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The company has a one-year high of $25.80 and a one-year low of $12.90. Currently, Yext Inc has an average volume of 795.7K.
Based on the recent corporate insider activity of 214 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.
