Zacks Investment Research upgraded shares of Yandex (NASDAQ:YNDX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Yandex reported third quarter results wherein both earnings and revenues reflected year over year growth on the back of its increasing online advertising revenues. The company’s core search business continued to be the key growth driver in the reported quarter. Yandex's increasing share in the Russian search market is a tailwind. The company’s solid momentum across Taxi, Classifieds and Experiments segments drove its quarterly results further and is expected to contribute well in the upcoming quarters. Further, increasing number of rides, global expansion of Yandex.Music’s content, robust Yandex.Drive and cloud platform are major positives. Notably, the stock has outperformed the industry it belongs to on a year-to-date basis. However, mounting investments across all the segments pose a serious threat to its profitability. Moreover, deconsolidation of Yandex.Market remains an overhang.”
Several other equities analysts have also recently commented on the stock. ValuEngine cut shares of Yandex from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Bank of America cut their target price on shares of Yandex from $49.00 to $47.00 and set a buy rating for the company in a research note on Friday, October 5th. Deutsche Bank cut their target price on shares of Yandex from $50.00 to $42.00 and set a buy rating for the company in a research note on Tuesday, October 23rd. BidaskClub cut shares of Yandex from a hold rating to a sell rating in a research note on Saturday, September 8th. Finally, HSBC began coverage on shares of Yandex in a research note on Monday, November 5th. They set a buy rating for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $41.33.
Yandex (NASDAQ:YNDX) last released its earnings results on Monday, October 29th. The information services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $496.60 million during the quarter. Yandex had a net margin of 37.72% and a return on equity of 12.70%. Yandex’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.16 earnings per share. Equities analysts predict that Yandex will post 0.81 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in YNDX. OppenheimerFunds Inc. raised its stake in shares of Yandex by 105.6% in the 3rd quarter. OppenheimerFunds Inc. now owns 18,348,459 shares of the information services provider’s stock valued at $603,480,000 after buying an additional 9,423,857 shares in the last quarter. Genesis Asset Managers LLP raised its stake in shares of Yandex by 1,536.8% in the 3rd quarter. Genesis Asset Managers LLP now owns 3,543,337 shares of the information services provider’s stock valued at $116,044,000 after buying an additional 3,326,862 shares in the last quarter. OZ Management LP acquired a new position in shares of Yandex in the 3rd quarter valued at $87,615,000. Capital International Investors raised its stake in shares of Yandex by 434.1% in the 3rd quarter. Capital International Investors now owns 2,090,508 shares of the information services provider’s stock valued at $68,757,000 after buying an additional 1,699,108 shares in the last quarter. Finally, Light Street Capital Management LLC raised its stake in shares of Yandex by 72.4% in the 2nd quarter. Light Street Capital Management LLC now owns 3,074,832 shares of the information services provider’s stock valued at $110,386,000 after buying an additional 1,291,801 shares in the last quarter. Institutional investors own 73.71% of the company’s stock.
Yandex Company Profile
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.
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