Seeking Alpha

Yandex N.V. (YNDX)

  • Today, 11:02 AM
    • "Even if there’s more upside, best to take at least some of the money and run with the Russian bears," writes Barron's Dimitra Defotis about Yandex (NASDAQ:YNDX) in a weekend column.
    • As of Friday's close, the Russian search giant had risen 48% from a March low of $13.90, aided by a rebounding ruble and higher oil prices. An EU antitrust probe of Google (comes amid a probe by Russian regulators) also hasn't hurt. Q1 results arrive on April 28.
  • Wed, Apr. 15, 2:56 PM
    • WTI crude oil has topped $56/barrel and the ruble has fallen below 50:1 against the dollar (it's now up over 30% in the last two months). Yandex (NASDAQ:YNDX) is taking the news quite well.
    • The Russian search leader is up 33% in April, and has topped $20 for the first time since December.
  • Mon, Apr. 6, 1:55 PM
    • WTI crude oil is up 5.9% to $52.06/barrel. The ruble and Russian markets have followed oil higher - the MICEX index rose 1.1%, and the dollar-based Russian Trading System Cash Index rose 4.2% - and so have U.S.-traded Yandex (YNDX +6.5%), MTS (MBT +3.9%), and VimpelCom (VIP +6.7%).
    • Yandex is up 9.5% since Deutsche upgraded last Thursday, arguing a Russian antitrust probe of Google will act as a positive catalyst.
  • Thu, Apr. 2, 2:03 PM
    • "We see the Russian antitrust investigation into Google and an overall increasing government eye on the Internet space providing a potential catalyst to Yandex (NASDAQ:YNDX) shares, which have been predominantly at the mercy of FX and macroeconomic forces of late," writes Deutsche, reiterating a Buy and $21 target.
    • The firm adds that while Russian macro pressures continue, the ruble (currently at 56.6 to the dollar) has stabilized, and believes "the bulk of downward [estimate] revisions" are now over. Pending Google document requests and hearings are seen providing positive news flow.
    • After getting clobbered last fall thanks to the ruble and crude oil's plunge, Yandex has traded in a fairly narrow range over the last couple of months. At the current exchange rate, shares go for 5.1x 2015E sales.
    | Comment!
  • Mon, Feb. 23, 11:09 AM
    • Yandex (YNDX -4.6%), Qiwi (QIWI -8.2%), VimpelCom (VIP -5.7%), and MTS (MBT -7.9%) are seeing fresh selling pressure after Moody's joined S&P in downgrading Russia's debt rating to junk, and  the U.S. and U.K. raised the prospect of fresh Ukraine-related sanctions.
    • Yandex is now down 3% from where it traded before providing better-than-feared Q4 results and Q1 guidance last Wednesday. Qiwi hasn't yet posted its Q4 report.
    | Comment!
  • Wed, Feb. 18, 5:38 PM
    | Comment!
  • Wed, Feb. 18, 9:29 AM
    • Yandex (NASDAQ:YNDX) is guiding for 15% Y/Y Q1 ruble-based revenue growth, below a 16.9% consensus but better than feared given Russia's macro woes.
    • Q4 revenue (RUR14.7B, or $260.7M) was up 21% Y/Y on a ruble basis, but down 29% from the year-ago level (RUR12.1B, or $369.3M) on a dollar basis. However, EPS (RUR23.44, or $0.42) rose from year-ago levels (RUR10.30, or $0.31) on both a ruble and dollar basis.
    • On a ruble basis, text ad sales on Yandex sites (search ad-driven) rose 24% Y/Y to RUR8.01B, a slowdown from Q3's 33%. Ad network text ad sales +16% to RUR2.83B; display ad sales on Yandex sites -2% to RUR1.01B (a recent weak spot); ad network display sales +34% to RUR137M.
    • Total ruble-based revenue growth fell to 21% from Q3's 28%. Paid clicks +18%; ad prices +3%.
    • Boosting EPS: Traffic acquisition costs fell to 21.1% of revenue from 23.4% a year ago. SG&A spend fell to 15.7% of revenue from 16.4%, but R&D rose to 18.2% from 13.7%. $18.9M was spent on buybacks.
    • Search queries rose a modest 9% Y/Y. LiveInternet estimates Yandex had a 59.7% Q4 search share, down from 60.3% in Q3 and 61.9% a year ago.
    • Yandex's shares, hit hard in recent months by the ruble and crude oil's plunge, have risen to $17.99 in premarket trading.
    • Q4 results, PR
    | Comment!
  • Wed, Feb. 18, 9:15 AM
    | Comment!
  • Wed, Feb. 18, 6:05 AM
    • Yandex (NASDAQ:YNDX): Q4 Adj. NI of RUR4.0B.
    • Revenue of RUR$14.7B (+21.6% Y/Y) misses by RUR$60M.
    • Press Release
    | Comment!
  • Tue, Feb. 17, 5:30 PM
  • Thu, Feb. 12, 9:48 AM
    • A ceasefire between Russia and Ukraine will go into effect on Feb. 15. Russia's MICEX Index is up 2%, and the ruble has risen moderately against the dollar - the exchange rate is currently 66.2.
    • Yandex (YNDX +3.3%), Qiwi (QIWI +5.9%), and MTS (MBT +3.6%) are responding well to the news. The companies also posted big gains last week.
    • This morning, Qiwi announced a partnership with Russian carrier MegaFon to offer a co-branded version of Qiwi's digital wallet. A 0.5% cash rebate is provided for payments made using the wallet.
  • Thu, Feb. 12, 9:15 AM
  • Thu, Feb. 5, 1:18 PM
    • Russia's MICEX Index rose 2.5% today, aided by a ~6% increase in oil prices. With the ruble up a bit against the dollar - the exchange rate is currently 66.6 - the dollar-based Russia Trading System Cash Index is up 4.7%.
    • Beaten-down Yandex (YNDX +7.1%) and Qiwi (QIWI +7.3%) have followed Russian markets higher.  Yandex's Q4 report arrives on Feb. 18.
  • Mon, Jan. 26, 1:21 PM
    • The ruble/dollar exchange rate is down to 67.9 after the U.S. and EU threatened Russia with new sanctions in the wake of a new offensive by pro-Russian Ukranian rebels. Meanwhile, S&P has downgraded Russia's debt rating to BB+ (junk status) from BBB-.
    • Yandex (YNDX -4%), Qiwi (QIWI -2.6%), VimpelCom (VIP -2%), and MTS (MBT -8.2%) aren't reacting well. Russia's MICEX Index fell 1.8% today. The dollar-based Russia Trading System Cash Index fell 5%.
    | 1 Comment
  • Tue, Jan. 20, 10:04 AM
    • Citing cost inflation (no doubt thanks to a plunging ruble), Goldman has downgraded Yandex (NASDAQ:YNDX) to Sell, and cut its 2015 and 2016 EPS estimates by ~40%.
    • The Russian search giant has once more fallen below $17. Local online payments leader QIWI is also off sharply. Moody's recently downgraded Russia's debt to the brink of junk.
  • Mon, Jan. 12, 2:59 PM
    • Yandex (YNDX -3.1%), Qiwi (QIWI -6.5%), VimpelCom (VIP -3.1%) and MTS (MBT -4.2%) are following the ruble lower once more. The dollar/ruble exchange rate is currently at 63.05.
    • In the news today: 1) Angela Merkel has warned about a lack of progress at a 4-way summit aimed at easing Ukraine tensions. 2) Goldman has cut its 3-month dollar/ruble target to 70 and its 12-month target to 60, citing the impact of low oil prices. 3) The Russian central bank discloses it has respectively spent $76B and €5.4B to prop up the ruble against the dollar and euro. 4) The president of Russia's regional banking association warns "a wave of bankruptcies" could hit the country.
    | Comment!
Visit Seeking Alpha's
YNDX vs. ETF Alternatives
Company Description
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.