YNDX

Yandex N.V.

TMT


Presented:11/15/2017
Price:$31.24
Cap:$10.34B
Current Price:$18.94
Cap:$6.85B

Presented

Date11/15/2017
Price$31.24
Market Cap$10.34B
Ent Value$10.24B
P/E Ratio91.72x
Book Value$4.39
Div Yield0%
Shares O/S330.98M
Ave Daily Vol2,625,606
Short Int0.47%

Current

Price$18.94
Market Cap$6.85B
Yandex NV operates as an investment holding company, which engages in the provision of a variety of search and other online services. Its search technology provides relevant, locally tailored experience on all digital platforms and devices. The company was founded by Elena Kolmanovskaya, Ilya Segalovich and Arkady Volozh in 2000 and is headquartered in Amsterdam, the Netherlands.

Publicly traded companies mentioned herein: Alibaba Group Holding Ltd (BABA), Alphabet Inc (GOOGL, GOOG), Amazon.com Inc (AMZN), Sberbank of Russia PJSC (SBER RM), Yandex NV (YNDX, YNDX RM)

Highlights

The presenter originally invested in Yandex stock (YNDX) in Q1 2017 due to: the potential for general search ad revenue growth in Russia to accelerate, the “hidden value" of its taxi business, and an attractive risk/ reward at that time. He remains long today, and believes the recent “pause” in the low $30s is a buying opportunity ahead of the next leg higher. With the stock trading at ~$31 the EV/ EBITDA multiple is in the mid-teens on 2018 Street estimates, and just 10x his 2019 EBITDA forecast. No other dominant internet assets trade this cheap in the market.

In early 2017, Yandex was attractive for the following few reasons:

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Idea Discussion

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