By late morning, shares had tumbled 8.6% to $36.42. Trading volume of 4.4 million was higher than its three-month daily average of 3.4 million.
The company, which generates more than 60% of all search traffic in Russia, reported revenue of 12.1 billion Russian rubles, 520 million Russian rubles lower than analysts surveyed by Thomson Reuters anticipated. Total sales were 37% higher than a year earlier.
Over fiscal 2014, the company expects revenue growth of 25% to 30%. Analysts have consensus of 28.5% sales growth.
TheStreet Ratings team rates YANDEX NV as a Buy with a ratings score of B-. The team has this to say about their recommendation:
"We rate YANDEX NV (YNDX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: YNDX Ratings Report