Why Yandex (YNDX) Is Gaining Today

NEW YORK (TheStreet) -- Yandex (YNDX) was gaining 4.3% to $37.77 Wednesday on news of a new advertising partnership with Google (GOOG).

The deal will connect Google's DoubleClick Big Manager and Demand-Side Platform to Yandex's real-time bidding platform. The Russian search engine provider says the deal is "mutually beneficial," saying that it will give Google advertisers access to Yandex advertising. Yandex is currently the top search engine in Russia, with Google trailing as a distant second place competitor.

"The integration of the two advertising systems will undoubtedly stimulate the online advertising market," Nikolay Danilov, head of Sales Technologies at Yandex said in a press release. "The transparency that is characteristic of RTB systems creates new possibilities for growth. The more players, the wider range of ad inventory, the greater the competition for placement, and the higher the quality of the ads themselves. We anticipate that the partnership with Google will result in increased display advertising sales and improvements in ad quality."

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TheStreet Ratings team rates YANDEX NV as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate YANDEX NV (YNDX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and growth in earnings per share. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive."

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