Ryan MacDonald, an analyst from Needham, reiterated the Buy rating on Yext. The associated price target remains the same with $10.00.
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Ryan MacDonald has given his Buy rating due to a combination of factors related to Yext’s recent developments. The CEO’s proposal to acquire all outstanding shares at $9 each has led to the formation of a special committee to evaluate this and any superior offers. This indicates a potential for increased shareholder value.
Additionally, Yext’s announcement that its Q2 results will meet or exceed guidance suggests that the company’s performance remains strong. The momentum of Yext’s new Scout offering further supports the company’s positive outlook. Given these factors, MacDonald sees no reason to alter the valuation, maintaining a Buy rating and a price target of $10.
According to TipRanks, MacDonald is a 4-star analyst with an average return of 6.1% and a 48.12% success rate. MacDonald covers the Technology sector, focusing on stocks such as Yext, Liveperson, and Docebo.