Yext (YEXT – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Ryan MacDonald from Needham reiterated a Buy rating on the stock and has a $10.00 price target.
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Ryan MacDonald has given his Buy rating due to a combination of factors related to Yext’s strategic acquisition and financial outlook. The recent purchase of PlacesScout, a software specializing in local SEO and reputation management, is seen as a positive move for Yext. This acquisition is expected to enhance Yext’s capabilities in providing comprehensive insights across major search channels, which is anticipated to drive larger deals and increase upsell opportunities.
Additionally, Yext’s reaffirmation of its Q4 and FY25 guidance, despite facing foreign exchange headwinds, suggests a strong business trajectory. The company’s confidence in meeting or surpassing its previously stated financial ranges further supports the positive outlook. MacDonald believes that the integration of PlacesScout will contribute positively to Yext’s customer success efforts and overall business growth over time.
According to TipRanks, MacDonald is a 5-star analyst with an average return of 9.8% and a 50.40% success rate. MacDonald covers the Technology sector, focusing on stocks such as Yext, Zeta Global Holdings Corp, and Chegg.