Yext (YEXT) Shares Soar Over 25% In IPO

On Thursday, shares of Yext Inc. (YEXT), a “digital knowledge” company, soared over 25% in morning trading after its initial public offering.

YEXT stock started trading on the New York Stock Exchange at $14 per share, above its IPO price of $11 per share, which the company finalized last night. This means it has raised at least $115.5 million so far at a valuation of roughly $940 million. Yext initially priced its debut between $8 and $10 per share.

Founded in 2006, Yext is a New York-based tech company that helps other businesses manage their listing on directory sites like Yelp (NYSE:YELP) , Facebook (NASDAQ:FB) , Alphabet’s (NASDAQ:GOOGL) Google Maps, and Foursquare. Its client list includes big names like Best Buy (NYSE:BBY) , Marriot (NASDAQ:MAR) , and McDonald’s (NYSE:MCD) . Yext helps companies like these make sure all of the right information is the same across all of those platforms.

Since Snap Inc.’s (NYSE:SNAP) blockbuster IPO in March, many investors have wondered which tech firms will follow. While big tech unicorns like Uber and Airbnb will likely stay private for a little while longer, smaller companies like Yext have already followed in Snap’s footsteps. Okta Inc. (NASDAQ:OKTA) , a developer of security and identity management software in the cloud, raised $187 million in its IPO last week, and Mulesoft Inc. (NYSE:MULE) , a software company that provides a platform that helps other businesses stitch together different software applications, data, and devices, rose 44% in its first day of trading last month.

Looking for Ideas with Even Greater Upside?

Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3-month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>