Zacks Investment Research Upgrades Yandex (YNDX) to “Buy”
Zacks Investment Research upgraded shares of Yandex (NASDAQ:YNDX) from a hold rating to a buy rating in a report issued on Monday. The firm currently has $37.00 price objective on the information services provider’s stock.
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 over a year. 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.”
A number of other analysts have also weighed in on YNDX. BidaskClub lowered shares of Yandex from a buy rating to a hold rating in a research note on Tuesday, July 31st. ValuEngine lowered shares of Yandex from a buy rating to a hold rating in a research note on Wednesday, August 8th. Finally, Bank of America cut their price objective on shares of Yandex from $49.00 to $47.00 and set a buy rating on the stock in a research note on Friday, October 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Yandex has an average rating of Buy and an average price target of $43.60.
Yandex (NASDAQ:YNDX) last issued its quarterly earnings results on Thursday, July 26th. The information services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). Yandex had a net margin of 36.22% and a return on equity of 12.72%. The company had revenue of $472.80 million for the quarter. During the same quarter last year, the firm earned $12.12 EPS. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. Equities research analysts expect that Yandex will post 0.97 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in YNDX. Prudential Financial Inc. acquired a new stake in shares of Yandex in the first quarter worth $214,000. Northern Trust Corp boosted its holdings in 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 buying an additional 57,068 shares in the last quarter. BlackRock Inc. boosted its holdings in 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 buying an additional 608,871 shares in the last quarter. Stifel Financial Corp boosted its holdings in Yandex by 20.8% during the first quarter. Stifel Financial Corp now owns 83,405 shares of the information services provider’s stock worth $3,291,000 after buying an additional 14,378 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Yandex during the first quarter worth $24,813,000. Hedge funds and other institutional investors own 69.28% of the company’s stock.
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: How Do You Calculate Return on Equity (ROE)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.