Zacks Investment Research upgraded shares of Yandex (NASDAQ:YNDX) from a hold rating to a buy rating in a research report report published on Monday. They currently have $37.00 price target 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.”

YNDX has been the topic of several other reports. BidaskClub downgraded Yandex from a hold rating to a sell rating in a research report on Saturday, September 8th. ValuEngine downgraded Yandex from a hold rating to a sell rating in a research report on Friday, September 7th. Finally, Bank of America reduced their price objective on Yandex from $49.00 to $47.00 and set a buy rating on the stock in a research report on Friday, October 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $43.60.

Shares of NASDAQ:YNDX opened at $33.20 on Monday. Yandex has a 52-week low of $29.48 and a 52-week high of $44.49. The firm has a market capitalization of $10.80 billion, a PE ratio of 41.22 and a beta of 2.54.

Yandex (NASDAQ:YNDX) last issued its quarterly earnings data on Thursday, July 26th. The information services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter. During the same quarter in the prior year, the company earned $12.12 EPS. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Yandex will post 1.08 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in 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 last quarter. NumerixS Investment Technologies Inc acquired a new position in Yandex in the second quarter valued at $240,000. Point72 Hong Kong Ltd acquired a new position in Yandex in the second quarter valued at $2,693,000. GAM Holding AG increased its stake in Yandex by 16.3% in the second quarter. GAM Holding AG now owns 72,248 shares of the information services provider’s stock valued at $2,594,000 after purchasing an additional 10,148 shares during the last quarter. Finally, Aviva PLC increased its stake in Yandex by 1.9% in the second quarter. Aviva PLC now owns 132,045 shares of the information services provider’s stock valued at $4,740,000 after purchasing an additional 2,447 shares during the last quarter. Hedge funds and other institutional investors own 68.20% of the company’s stock.

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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