Yandex NV has the most buy ratings since 2011 and is favored over rival Google Inc. by equity analysts as the company cements its position as Russia’s most- used search engine amid rising demand for Internet advertising.
Yandex NV rose the most in 18 months after Russia’s largest Internet search engine posted a 79 percent increase in first-quarter profit and raised its 2013 sales target because of growth in online advertising.
Priceline.com Inc. has boosted annual ad spending to more than $1 billion for the first time, extending its lead over Expedia Inc. in the hotel-booking market and stepping up a rivalry that’s benefiting Google Inc.
Yandex NV, Russia’s largest search engine, fell the most in more than a year after reporting fourth-quarter earnings that missed analysts’ estimates and said sales growth will slow in its domestic market.
Yandex NV plunged to the cheapest level on record versus Google Inc. on concern the Russian search engine is boosting spending to remain competitive with its rival as the outlook for web advertising deteriorates.