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Investing.com - Yext Inc . (NYSE:YEXT) stock rose after CEO Michael Walrath submitted an unsolicited proposal to acquire all outstanding shares of the company for $9 per share. The stock, which has delivered a remarkable 63.1% return over the past year, currently trades at $9.05, near its 52-week high of $9.15. According to InvestingPro analysis, the company’s market capitalization stands at $1.1 billion.
The company has formed a special committee to evaluate the proposal and consider any superior offers that might be received, according to Needham analyst Ryan MacDonald, who reiterated a Buy rating and $10.00 price target on the stock.
Yext announced that its second-quarter results would meet or exceed previously provided guidance ranges, suggesting the buyout offer is not related to performance issues. However, the company has withdrawn its fiscal year 2026 guidance.
Needham views a financial sponsor as a more likely financier for the deal than a strategic buyer, noting that the guidance update indicates the business remains on track.
The analyst cited growing momentum of Yext’s new Scout offering and the potential for additional offers as reasons for maintaining the firm’s valuation perspective on the company.
In other recent news, Yext Inc. reported its fiscal Q1 2026 earnings, meeting the earnings per share forecast of $0.12 and surpassing revenue expectations with $109.5 million compared to the projected $107.6 million. In a notable development, CEO and Chairman Michael Walrath proposed acquiring all outstanding shares of Yext not already owned by him for $9.00 per share, with backing from well-capitalized financing sources. Additionally, during Yext’s annual stockholders’ meeting, shareholders elected three Class II directors, including Walrath, to serve a three-year term. Analyst firm DA Davidson raised Yext’s stock price target to $8.25 from $7.50, maintaining a Neutral rating after the company’s solid financial performance. Meanwhile, B. Riley upgraded Yext stock from Neutral to Buy, increasing the price target to $10.00, citing improved key performance indicators and management’s strong track record. These recent developments indicate a period of significant activity and investor interest in Yext.
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