HSBC started coverage on shares of Yandex (NASDAQ:YNDX) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the information services provider’s stock.
Several other analysts also recently issued reports on YNDX. Zacks Investment Research downgraded shares of Yandex from a strong-buy rating to a hold rating in a research note on Tuesday, July 17th. BidaskClub downgraded shares of Yandex from a buy rating to a hold rating in a research note on Tuesday, July 31st. Finally, ValuEngine downgraded shares of Yandex from a buy rating to a hold rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $41.33.
NASDAQ:YNDX traded down $0.04 during trading hours on Monday, hitting $29.67. 82,990 shares of the stock traded hands, compared to its average volume of 7,597,112. Yandex has a fifty-two week low of $24.90 and a fifty-two week high of $44.49. The company has a market cap of $9.90 billion, a P/E ratio of 36.59 and a beta of 2.43.
Several hedge funds and other institutional investors have recently bought and sold shares of YNDX. Allianz Asset Management GmbH increased its stake in shares of Yandex by 61.5% in the first quarter. Allianz Asset Management GmbH now owns 1,116,160 shares of the information services provider’s stock worth $44,751,000 after acquiring an additional 424,870 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Yandex in the second quarter worth $371,000. Bank of Montreal Can boosted its holdings in Yandex by 44.6% in the second quarter. Bank of Montreal Can now owns 394,007 shares of the information services provider’s stock worth $14,145,000 after purchasing an additional 121,524 shares in the last quarter. Pendal Group Ltd bought a new stake in Yandex in the second quarter worth $21,117,000. Finally, FNY Investment Advisers LLC bought a new stake in Yandex in the second quarter worth $143,000. 68.81% of the stock is currently owned by institutional investors and hedge funds.
Yandex N.V., an Internet and technology company, operates an Internet search engine in Russia and internationally. The company offers search, location-based, personalized, and mobile services that enable users to find information, and communicate and connect over the Internet from desktops and mobile devices.
Read More: Benefits of owning preferred stock
Receive News & Ratings for Yandex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yandex and related companies with MarketBeat.com's FREE daily email newsletter.