Report
Oksana Mustiatsa ...
  • Svetlana Sukhanova

Yandex - YAC 2019: New Products in Media, Food and Devices

YAC, which stands for Yet Another Conference, is Yandex's flagship annual conference. At this year's YAC, which was just held, the company focused on AI-based products and services, as well as its media and food platforms. The announcements included "Zen for video," a personalized video stream on its Yandex.Live platform; the HDMI dongle media player Yandex.Module; a cloud restaurant chain with prices under R250 per dish; and an upgrade of the Yandex.Auto infotainment system. We remain positive on Yandex and reiterate our BUY rating and $51.00 price target. The next catalysts to watch are the AGM, 2Q19 results and IPO of the Yandex.Taxi JV.
Underlying
Yandex NV Class A

Yandex is an internet and technology company that operates an internet search engine in Russia. Co. builds intelligent products and services powered by machine learning. Co.'s products and services are based on complex, unique technologies that are not easily replicated. Co. generates substantially all of its revenues from online advertising. Co. also generates revenues from its e-commerce offerings, classifieds and e-hailing service. Co.'s businesses are organized in the following operating segments: Search and Portal; E-commerce; Taxi; Classifieds and Experimental businesses.

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Oksana Mustiatsa

Svetlana Sukhanova

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