Analysts are forecasting annual growth of 43.9% next year for this tech company.
Yandex N.V. (YNDX)
From Cabot Global Stocks Explorer
Yandex N.V. (YNDX), our most recent recommendation, moved sidewise this week on no news.
The company is overlooked by even sophisticated investors and when they do consider it, they primarily view it as a search engine that has cornered 57% of the Russian market.
This core business is up 20% over the last year and I believe it has room to run, but the market is not recognizing some of the company’s key growth drivers such as Yandex Taxi, a food delivery service, and its (loss making) autonomous driving technology through a partnership with Hyundai.
Founded in October 2011, Yandex Taxi is a technology company that operates a ride-hailing and food technology business in more than 300 cities across Russia, Eastern Europe, Africa and the Middle East. In July 2017, the company signed an agreement with Uber to combine their operations in many of these markets. The company also went into the food delivery business with the purchase of Foodfox in December 2017.
Yandex Taxi revenue grew 117% in the last quarter on a year over year basis. BUY A HALF.
Carl Delfeld, Cabot Global Stocks Explorer, www.cabotwealth.com, 978-745-5532, September 12, 2019