Yandex (YNDX) Stock Rating Lowered by Zacks Investment Research

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.

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.”

YNDX has been the topic of several other research reports. ValuEngine upgraded shares of Yandex from a hold rating to a buy rating in a research note on Wednesday. BidaskClub lowered shares of Yandex from a hold rating to a sell rating in a research note on Saturday, September 8th. Finally, Bank of America dropped their price target 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 issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $43.60.

Shares of NASDAQ YNDX opened at $27.42 on Wednesday. Yandex has a 52-week low of $24.90 and a 52-week high of $44.49. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 34.69 and a beta of 2.54.

Yandex (NASDAQ:YNDX) last issued its 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 return on equity of 12.72% and a net margin of 36.22%. The business had revenue of $472.80 million during the quarter. During the same quarter in the prior year, the company earned $12.12 earnings per share. The firm’s revenue was up 38.8% compared to the same quarter last year. On average, equities analysts expect that Yandex will post 0.97 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the business. OppenheimerFunds Inc. increased its stake in shares of Yandex by 37.4% in the second quarter. OppenheimerFunds Inc. now owns 8,924,602 shares of the information services provider’s stock valued at $320,392,000 after purchasing an additional 2,427,233 shares during the period. BlackRock Inc. increased its stake in shares of Yandex by 24.1% in the second quarter. BlackRock Inc. now owns 6,161,700 shares of the information services provider’s stock valued at $221,204,000 after purchasing an additional 1,195,070 shares during the period. Wells Fargo & Company MN increased its stake in shares of Yandex by 1.2% in the second quarter. Wells Fargo & Company MN now owns 5,426,630 shares of the information services provider’s stock valued at $194,816,000 after purchasing an additional 63,582 shares during the period. American Century Companies Inc. increased its stake in shares of Yandex by 7.2% in the second quarter. American Century Companies Inc. now owns 3,602,897 shares of the information services provider’s stock valued at $129,344,000 after purchasing an additional 241,530 shares during the period. Finally, Genesis Asset Managers LLP increased its stake in shares of Yandex by 1,536.8% during the third quarter. Genesis Asset Managers LLP now owns 3,543,337 shares of the information services provider’s stock valued at $116,044,000 after acquiring an additional 3,326,862 shares during the period. Institutional investors own 69.28% 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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