How analysts assess the prospects of Yandex's division

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Head of the analytical department of Gazprombank Anna Kupriyanova noted that in the described scheme "there are still more questions than answers, and many blank spots." According to her estimates, the potential value of 51% of Yandex in Russia can be calculated based on 80-90% of the current market capitalization usa mobile number database (based on the current value of Yandex NV on the Moscow Exchange, this is 518-583 billion rubles), one can also take into account the potential upside (expectation of growth in quotes) at the level of 20-40%. But she stipulated that the deal is unlikely to be made at market value, but will rather involve a discount. "In the future, Yandex may grow due to the emergence of certainty in the event of the completion of the reorganization," Kupriyanova reasons. "Yandex remains the flagship of the Russian market in the field of online advertising, food delivery and taxis, as well as one of the leaders in e-commerce."

Alfa Bank analyst Anna Kurbatova believes that "as part of the reorganization deal, which will most likely involve a change in strategic ownership, the hypothetical company Yandex Russia may be valued at multiples closer to historical values ​​and higher than Yandex's current market quotations." "In our opinion, Yandex Russia's valuation may lie in the range of $13–16 billion for 100% (RUB 984–1211 billion at the current exchange rate. — RBC). Upon completion of the reorganization, the value of assets may increase both due to continued growth of the company's business (given the strengthening of Yandex's position in many market segments after the departure of foreign competitors) and due to a further reduction in the discount to historical levels as shareholder risks are eliminated," Kurbatova points out.