5 Best Global Stocks To Buy Now

3. Yandex N.V. (NASDAQ:YNDX)

Number of Hedge Fund Holders: 27

Yandex N.V. (NASDAQ:YNDX) is a Russian internet search engine company that offers machine learning-backed products and services. The company offers geolocation services, cloud-based storage, video conferencing service, market analytics tools, and an e-commerce site. Yandex N.V. (NASDAQ:YNDX) also runs a ride-sharing service and a real estate classifieds platform.

The Russian e-commerce company announced in November that it would invest “tens of millions of dollars” in improving its fashion segment by 2022. Yandex N.V. (NASDAQ:YNDX) intends to increase the fashion segment’s share of total goods turnover across all Yandex e-commerce services to around 20%.

Yandex N.V. (NASDAQ:YNDX) was recently upgraded by HSBC analyst Raj Sinha to Buy from Hold. Despite the fact that the stock dropped 28% in November, Sinha believes that this gives investors a buying opportunity. The stock’s price target was likewise raised by the HSBC analyst to $77 from $76 on December 16.

At the end of the third quarter of 2021, 27 hedge funds in Insider Monkey’s database of 867 funds held stakes in Yandex N.V. (NASDAQ:YNDX) compared to 31 funds in the previous quarter. Orbis Investment Management is Yandex N.V.’s (NASDAQ:YNDX) most significant stakeholder, with 4.9 million shares worth $397 million.