The stock of Yandex N.V. (NASDAQ:YNDX) is now priced at $68.23 and the shares are 2.98 points up or 4.57% higher compared to its previous closing price of $65.25. The stock had 19.628 million contracts set over the past session. YNDX shares’ daily volume is compared to its average trading volume at 2.798 million shares. However, it has a float of 305 million and although its performance was 4.55% over the week, it’s one to watch. Analysts have given the YNDX stock a yearly average price target of $56.61 per share. It means the stock’s downside potential is -17.03% with the YNDX share price recently placing at $66.65 to $70.11. However, some brokerage firms have priced the stock below the average, including one that has called $3084.44.
The shorts are running away from the Yandex N.V. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the YNDX shares have declined. Short interest in the stock represents just 2.71% of its float, but the volume has dropped by -1004919. The volume of shorted shares dropped to 8.245 million from 9.25 million shares over the last two weeks. The average intraday trading volume has been 2.015 million shares, which means that days to cover moved to roughly 4.091958.
In the last trading session, Yandex N.V. (NASDAQ:YNDX) raised by $2.97 over the week and gained $9.67 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $70.11. The stock recorded its established 52-week high on 08/31/20.
Since 03/18/20, the stock has traded to a low of $27.93 at 144.29%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.63. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Yandex N.V.’s two-week RSI is 76.5. This suggests that the stock is oversold at the moment and that YNDX shares’ price movement remains not stable. The stochastic readings are equally revealing at 81.12% meaning the YNDX share price is currently in oversold territory.
The technical chart shows that the YNDX stock will likely settle at between $70.01 and $71.79 per share. However, if the stock dips below $66.55, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $64.87.
Currently, the stock is trading in the green of MACD, with a reading of 0.97. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at UBS cut their recommendation for YNDX from Buy to Neutral in April 15 review. Morgan Stanley analysts downgraded their recommendation of the stock from Overweight to Equal-Weight in a flash note released to investors on February 18. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on November 21.
The average rating for the YNDX equity is 2.11 and is currently gathering a bullish momentum. Of 19 analysts tracking Yandex N.V. polled by Reuters, 6 rated YNDX as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the YNDX stock price is 43.07X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 100.3 above the group’s average of 44.1. Yandex N.V. has its P/E ratio at 6.5, which means that the stock is currently trading at a premium relative to the 6.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Yandex N.V. (NASDAQ:YNDX) will decrease by about -99.87%, which will see them reach $746 million. The company’s full-year revenues are, however, expected to increase by about 14.11%, up from $2480 million to $2830 million. YNDX’s expected adjusted earnings should drop almost -15.63% to end up at $0.27 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -98.69% to record $0.92/share.