Zacks Investment Research downgraded shares of Yandex (NASDAQ:YNDX) from a hold rating to a sell rating in a research report report published on Monday morning.
According to Zacks, “Yandex is currently suffering from the deconsolidation impact of Yandex.Market which is affecting its top-line growth. Also, mounting investments across all the segments poses a serious threat to its profitability. Nevertheless, the company’s core search business remains the key growth driver. Yandex continues to experience increase in its share in the Russian search market. Additionally, the company’s solid momentum across Taxi, Classifieds and Experiments segments will continue to contribute well in the upcoming quarters. Notably, the stock has outperformed the industry it belongs to over a year. However, the management expects sluggishness in the company's Android search share which remains an overhang for the overall search revenues. Further, concentration of revenues is a major concern.”
Several other analysts have also recently weighed in on YNDX. BidaskClub raised shares of Yandex from a sell rating to a hold rating in a research note on Friday, September 21st. ValuEngine raised shares of Yandex from a sell rating to a hold rating in a research note on Monday, September 24th. Bank of America reduced 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. Deutsche Bank reduced their price objective on shares of Yandex from $50.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, October 23rd. Finally, UBS Group set a $43.00 price objective on shares of Yandex and gave the stock a buy rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Yandex has a consensus rating of Buy and an average target price of $41.33.
Yandex (NASDAQ:YNDX) last posted its earnings results on Monday, October 29th. The information services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm 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%. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.16 EPS. On average, sell-side analysts expect that Yandex will post 0.8 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in YNDX. OppenheimerFunds Inc. lifted its holdings in Yandex by 105.6% in the third quarter. OppenheimerFunds Inc. now owns 18,348,459 shares of the information services provider’s stock valued at $603,480,000 after buying an additional 9,423,857 shares during the period. Genesis Asset Managers LLP lifted its holdings in Yandex by 1,536.8% in 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 buying an additional 3,326,862 shares during the period. OZ Management LP acquired a new position in Yandex in the third quarter valued at $87,615,000. Capital International Investors lifted its holdings in Yandex by 434.1% in the third quarter. Capital International Investors now owns 2,090,508 shares of the information services provider’s stock valued at $68,757,000 after buying an additional 1,699,108 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Yandex in the third quarter valued at $41,174,000. Institutional investors and hedge funds own 67.15% 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.
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