Zacks Investment Research downgraded shares of Yandex (NASDAQ:YNDX) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Yandex continues to gain from its increasing online advertising revenues. Nevertheless, the company’s core search business remains the key driver of its top-line growth. Yandex continues to experience increase in its share in the Russian search market. Further, expanding subscriber base of Yandex.Music and well-performing Yandex.Taxi owing to the increasing number of rides are major positives. The company’s solid momentum across Taxi, Classifieds and Experiments is expected to contribute well in the upcoming quarters. Estimates have been going up ahead of the company’s Q3 earnings release. Notably, the stock has outperformed the industry it belongs to on a year-to-date basis. However, mounting investments across all the segments poses a serious threat to its profitability. Moreover, sluggish growth the e-commerce unit due to deconsolidation of Yandex.Market remains a concern.”
Several other analysts also recently weighed in on YNDX. ValuEngine upgraded Yandex from a hold rating to a buy rating in a research note on Wednesday. BidaskClub downgraded Yandex from a buy rating to a hold rating in a research note on Tuesday, July 31st. Finally, Bank of America lowered their target price on Yandex from $49.00 to $47.00 and set a buy rating for the company in a research note on Friday, October 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $43.60.
Shares of Yandex stock opened at $27.42 on Wednesday. The stock has a market cap of $9.68 billion, a PE ratio of 34.69 and a beta of 2.54. Yandex has a 1-year low of $24.90 and a 1-year high of $44.49.
Yandex (NASDAQ:YNDX) last announced its earnings results on Thursday, July 26th. The information services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $472.80 million for the quarter. Yandex had a net margin of 36.22% and a return on equity of 12.72%. Yandex’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the company earned $12.12 EPS. Sell-side analysts predict that Yandex will post 0.97 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of YNDX. Northern Trust Corp lifted its position in shares of Yandex by 7.8% during the first quarter. Northern Trust Corp now owns 792,824 shares of the information services provider’s stock worth $31,277,000 after purchasing an additional 57,068 shares during the last quarter. BlackRock Inc. lifted its position in shares of Yandex by 14.0% during the first quarter. BlackRock Inc. now owns 4,966,630 shares of the information services provider’s stock worth $195,934,000 after purchasing an additional 608,871 shares during the last quarter. Millennium Management LLC lifted its position in shares of Yandex by 188.9% during the first quarter. Millennium Management LLC now owns 1,084,274 shares of the information services provider’s stock worth $42,775,000 after purchasing an additional 709,009 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Yandex during the first quarter worth about $1,683,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Yandex by 61.5% during 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 purchasing an additional 424,870 shares during the last quarter. 69.28% of the stock is currently owned by institutional investors and hedge funds.
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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