HSBC Begins Coverage on Yandex (YNDX)

HSBC began coverage on shares of Yandex (NASDAQ:YNDX) in a research note issued to investors on Monday, The Fly reports. The firm issued a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America reduced their price target on Yandex from $49.00 to $47.00 and set a buy rating on the stock in a research note on Friday, October 5th. Zacks Investment Research raised Yandex from a hold rating to a buy rating and set a $43.00 target price on the stock in a research note on Thursday, July 19th. ValuEngine raised Yandex from a hold rating to a buy rating in a research note on Wednesday, October 17th. BidaskClub raised Yandex from a hold rating to a buy rating in a research note on Wednesday, October 17th. Finally, Deutsche Bank cut their target price on Yandex from $50.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $41.33.

YNDX stock traded up $0.24 during midday trading on Monday, hitting $30.42. The stock had a trading volume of 17,153 shares, compared to its average volume of 7,624,902. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 37.75 and a beta of 2.43. Yandex has a 52-week low of $24.90 and a 52-week high of $44.49.

Yandex (NASDAQ:YNDX) last issued its quarterly earnings results on Monday, October 29th. The information services provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $496.60 million for the quarter. Yandex had a return on equity of 12.70% and a net margin of 37.72%. Yandex’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the previous year, the company earned $7.16 earnings per share. As a group, equities research analysts predict that Yandex will post 0.81 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YNDX. First Hawaiian Bank purchased a new stake in shares of Yandex during the third quarter valued at $115,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Yandex during the second quarter valued at $144,000. FNY Investment Advisers LLC purchased a new stake in shares of Yandex during the second quarter valued at $143,000. Cynosure Advisors LLC purchased a new stake in shares of Yandex during the second quarter valued at $241,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Yandex during the second quarter valued at $240,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

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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