Bank of America Lowers Yandex (YNDX) Price Target to $43.00

Yandex (NASDAQ:YNDX) had its price objective dropped by research analysts at Bank of America from $47.00 to $43.00 in a report released on Friday. The firm presently has a “buy” rating on the information services provider’s stock. Bank of America’s price objective suggests a potential upside of 44.78% from the company’s current price.

YNDX has been the subject of several other reports. Zacks Investment Research cut Yandex from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. UBS Group set a $43.00 price target on Yandex and gave the company a “buy” rating in a research report on Wednesday. BidaskClub cut Yandex from a “hold” rating to a “sell” rating in a research report on Saturday, September 8th. ValuEngine cut Yandex from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Deutsche Bank cut their price objective on Yandex from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.33.

Shares of NASDAQ YNDX opened at $29.70 on Friday. Yandex has a 52 week low of $24.90 and a 52 week high of $44.49. The company has a market cap of $9.75 billion, a P/E ratio of 29.70 and a beta of 2.43.

Yandex (NASDAQ:YNDX) last issued its quarterly earnings results on Monday, October 29th. The information services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Yandex had a return on equity of 12.70% and a net margin of 37.72%. The firm had revenue of $496.60 million during the quarter, compared to analysts’ expectations of $467.97 million. During the same period in the prior year, the firm posted $7.16 earnings per share. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. Equities analysts predict that Yandex will post 0.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position 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 buying an additional 241,530 shares during the last quarter. United Services Automobile Association lifted its position in shares of Yandex by 169.7% in the second quarter. United Services Automobile Association now owns 268,677 shares of the information services provider’s stock valued at $9,646,000 after buying an additional 169,061 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Yandex in the second quarter valued at approximately $240,000. Point72 Hong Kong Ltd acquired a new stake in shares of Yandex in the second quarter valued at approximately $2,693,000. Finally, GAM Holding AG lifted its holdings in Yandex by 16.3% during the 2nd quarter. GAM Holding AG now owns 72,248 shares of the information services provider’s stock worth $2,594,000 after purchasing an additional 10,148 shares during the last quarter. 68.51% of the stock is owned by institutional investors.

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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