HSBC Initiates Coverage on Yandex (YNDX)

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HSBC initiated coverage on shares of Yandex (NASDAQ:YNDX) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued a buy rating on the information services provider’s stock.

YNDX has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Yandex from a buy rating to a hold rating in a research note on Wednesday, October 17th. UBS Group set a $43.00 price target on shares of Yandex and gave the stock a buy rating in a research note on Wednesday, October 31st. BidaskClub downgraded shares of Yandex from a hold rating to a sell rating in a research note on Saturday, September 8th. ValuEngine downgraded shares of Yandex from a hold rating to a sell rating in a research note on Friday, September 7th. Finally, Bank of America dropped their price target on shares of Yandex from $47.00 to $43.00 and set a buy rating for the company in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Yandex has an average rating of Buy and an average price target of $41.33.

Shares of YNDX stock opened at $29.10 on Monday. Yandex has a 1 year low of $24.90 and a 1 year high of $44.49. The company has a market cap of $9.90 billion, a PE ratio of 35.93 and a beta of 2.43.

Yandex (NASDAQ:YNDX) last announced its earnings results on Monday, October 29th. The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $496.60 million for 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.16 earnings per share. Research analysts anticipate that Yandex will post 0.81 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of YNDX. First Hawaiian Bank bought a new stake in Yandex in the third quarter valued at approximately $115,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Yandex in the second quarter valued at approximately $144,000. FNY Investment Advisers LLC bought a new stake in Yandex in the second quarter valued at approximately $143,000. Cynosure Advisors LLC bought a new stake in Yandex in the second quarter valued at approximately $241,000. Finally, NumerixS Investment Technologies Inc bought a new stake in Yandex in the second quarter valued at approximately $240,000. 68.81% of the stock is owned by institutional investors and hedge funds.

About Yandex

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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Analyst Recommendations for Yandex (NASDAQ:YNDX)

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