The stock of Yext, Inc. (NYSE:YEXT) is now priced at $20.13 and the shares are 0.27 points up or 1.36% higher compared to its previous closing price of $19.86. YEXT shares have a float of 100 million and although its performance was 14.31% over the week, it’s one to watch. Analysts have given the YEXT stock a yearly average price target of $18.5 per share. It means the stock’s downside potential is -8.1% with the YEXT share price recently placing at $19.37 to $20.29. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Yext, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the YEXT shares have declined. Short interest in the stock represents just 7.17% of its float, but the volume has dropped by 0.
In the last trading session, Yext, Inc. (NYSE:YEXT) raised by $2.52 over the week and gained $2.55 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $20.29. The stock recorded its established 52-week high on 09/01/20.
Since 04/03/20, the stock has traded to a low of $8.56 at 135.16%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.52. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Yext, Inc.’s two-week RSI is 75.56. This suggests that the stock is oversold at the moment and that YEXT shares’ price movement remains not stable. The stochastic readings are equally revealing at 94.15% meaning the YEXT share price is currently in oversold territory.
The technical chart shows that the YEXT stock will likely settle at between $20.49 and $20.85 per share. However, if the stock dips below $19.57, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.01.
Currently, the stock is trading in the green of MACD, with a reading of 1.21. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned YEXT a rating of Buy in their intiating review released on June 25. William Blair analysts see the stock as a Outperform in a flash note released to investors on June 23 initiating covering the stock. Needham analysts see the stock as Buy when the analysts initiated the share price coverage on June 10, placing it at $19.
The average rating for the YEXT equity is 2.2 and is currently gathering a bullish momentum. Of 10 analysts tracking Yext, Inc. polled by Reuters, 2 rated YEXT as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 40.9. Yext, Inc. has its P/E ratio at 12.2, which means that the stock is currently trading at a discount relative to the 13.6 industry average.