The value of Yandex shares dropped to the lowest level in the entire history of the company
Within three days after the publication of the Yandex company ’s report for the second quarter, its shares on the Nasdaq fell by 11%. On Friday evening, the price per share reached its lowest level ($ 13.88) in the entire history of the company. The previous “record” ($ 13.90) was set in March of this year. On Sunday, the fall in quotations continued, and the price fell to $ 13.74 per share. On Monday at 7 pm Moscow time, the Yandex capitalization was $ 4.44 billion.
In the II quarter of 2015, the adjusted net profit of the company “Yandex” amounted to 2.8 billion rubles, which is 16% less than last year. Net profit before the adjustment of indicators decreased by 82% - to 423 million rubles. As explained by the press service of "Yandex", 82% is a "paper" fall, caused primarily by the change in exchange rates.
According to the quarterly report, the company's revenue compared with the same period of the same period last year grew by 14% - up to 13.9 billion rubles. Representatives of Yandex assumed that it would be possible to increase the figure by 9-12%, while analysts at Interfax predicted an increase of only 11%.
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According to Wall Street investors, Yandex also had to show the worst results - $ 228 million in revenue and $ 0.14 per share instead of $ 250 million and $ 0.16 per share, which the company eventually reported.
Despite this, stock prices began to fall. UBS analysts found investor reaction unjustified. Analysts at Deutsche Bank recently lowered the target price of Yandex shares from $ 21 to $ 20, but left a recommendation to “buy” these securities, transfer Vedomosti
“Papers of all Russian companies in recent days are not in the best position. Weak ruble, falling oil prices, very conservative forecasts for the Russian economy - these are the main factors that adversely affect the shares of the Russian search engine, ”said Uralsib analyst Konstantin Belov.
“Yandex has a double dependence on the ruble - on the one hand, it receives almost all its revenue in national currency, on the other hand, about a third of its expenses are actually denominated in foreign currency,” adds Otkrytiya analyst Alexander Vengranovich.
In the II quarter of 2015, the adjusted net profit of the company “Yandex” amounted to 2.8 billion rubles, which is 16% less than last year. Net profit before the adjustment of indicators decreased by 82% - to 423 million rubles. As explained by the press service of "Yandex", 82% is a "paper" fall, caused primarily by the change in exchange rates.
According to the quarterly report, the company's revenue compared with the same period of the same period last year grew by 14% - up to 13.9 billion rubles. Representatives of Yandex assumed that it would be possible to increase the figure by 9-12%, while analysts at Interfax predicted an increase of only 11%.
')
According to Wall Street investors, Yandex also had to show the worst results - $ 228 million in revenue and $ 0.14 per share instead of $ 250 million and $ 0.16 per share, which the company eventually reported.
Despite this, stock prices began to fall. UBS analysts found investor reaction unjustified. Analysts at Deutsche Bank recently lowered the target price of Yandex shares from $ 21 to $ 20, but left a recommendation to “buy” these securities, transfer Vedomosti
“Papers of all Russian companies in recent days are not in the best position. Weak ruble, falling oil prices, very conservative forecasts for the Russian economy - these are the main factors that adversely affect the shares of the Russian search engine, ”said Uralsib analyst Konstantin Belov.
“Yandex has a double dependence on the ruble - on the one hand, it receives almost all its revenue in national currency, on the other hand, about a third of its expenses are actually denominated in foreign currency,” adds Otkrytiya analyst Alexander Vengranovich.
Source: https://habr.com/ru/post/293280/
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