Needham & Company Starts YEXT Inc. (YEXT) at Buy

(updating comment)

Needham & Company analyst Ryan MacDonald initiates coverage on YEXT Inc. (NYSE: YEXT) with a Buy rating and a price target of $19.00.

The analyst comments "Yext is a provider of cloud-based digital knowledge management solutions that allow businesses to regain their role as the single source of truth for their public information across an evolving search ecosystem, including the company website and search engines. Yext has approximately doubled the size of its TAM to $20B via the organic expansion of its platform with the introduction of its new Answers solution. Given the broader applicability of the solution, Yext is shifting its go-to-market approach to land with Answers and expand with Listings and Pages. When combining this with the investments made to quickly scale the sales organization, we believe Yext has a clear path to 20%+ growth while making progress towards cash flow breakeven."

For an analyst ratings summary and ratings history on YEXT Inc. click here. For more ratings news on YEXT Inc. click here.

Shares of YEXT Inc. closed at $15.60 yesterday.

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