Yandex NV Receives a Buy from Deutsche Bank

By George MacDonald

Deutsche Bank analyst Lloyd Walmsley reiterated a Buy rating on Yandex NV (NASDAQ: YNDX) on May 28 and set a price target of $21. The company’s shares closed last Friday at $18.03.

Walmsley said, “We come away from meetings with Yandex feeling better about stabilizing trends. Key takeaways include: Yandex.Market growth improving, cost controls, investments in mobile, local and Turkey, and impressive Yandex Taxi growth. We see antitrust hearings next week as a potential catalyst.”

Yandex NV has an analyst consensus of Strong Buy, with a price target consensus of $21.

Based on Yandex NV`s latest earnings report from March 31, the company posted quarterly revenue of $214.2M and quarterly net profit of $36.92M. In comparison, last year the company earned revenue of $304.2M and had a net profit of $74.91M.

According to TipRanks, Walmsley is a 5-star analyst with an average return of 15.5% and a 60.5% success rate. Walmsley covers the Technology sector, focusing on stocks such as Kayak Software Corp, Angie’s List Inc., and TripAdvisor Inc.

Yandex NV is an Internet company. It offers access to its search engine through personal computers, mobile phones, tablets, and navigation and other digital devices.