Jefferies Comments on Yandex (YNDX) Following Russia Market Share Update; Says its Typical 'Ebb and Flow' of Industry

Jefferies commented on Yandex (Nasdaq: YNDX) following a market share update from liveinternet.ru. The firm maintained a Buy rating and $40 price target.

Commenting on September data, Jefferies said, "Russia search engine market share continues to ebb and flow, in favour of Yandex over the first week of October. But, in our opinion, in reality, little insight is gained by homing in on such short-term market share twitches. Either way, there is no revenue impact on the vendors."

Jefferies' indifferent view continues, with the analyst commenting, "Russia search engine market share continues to ebb and flow, in favour of Yandex over the first week of October. But, in our opinion, in reality, little insight is gained by homing in on such short-term market share twitches. Either way, there is no revenue impact on the vendors."

For more analyst color on Yandex, click here, or click here for a ratings history.

Yandex is trading flat pre-market Friday.

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