VEON (NASDAQ:VEON) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of VEON (NASDAQ:VEON) from a buy rating to a strong-buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Northland Securities initiated coverage on VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price for the company. Benchmark reiterated a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Stock Performance

Shares of VEON stock opened at $67.87 on Friday. The firm has a market cap of $5.02 billion, a PE ratio of 79.85 and a beta of 1.63. The firm’s 50-day simple moving average is $56.94 and its 200-day simple moving average is $53.68. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97. VEON has a 1 year low of $42.60 and a 1 year high of $69.50.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same quarter last year, the company posted $8.30 earnings per share. Equities analysts forecast that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at VEON

In other VEON news, Director K II acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $56.02 per share, with a total value of $280,100.00. Following the transaction, the director directly owned 96,000 shares in the company, valued at approximately $5,377,920. This represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On VEON

A number of hedge funds and other institutional investors have recently bought and sold shares of VEON. NewEdge Advisors LLC bought a new position in shares of VEON during the first quarter valued at approximately $400,000. Jones Financial Companies Lllp lifted its holdings in shares of VEON by 84,690.0% in the 1st quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after purchasing an additional 16,938 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of VEON by 177.9% in the 1st quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after purchasing an additional 10,483 shares during the last quarter. JPMorgan Chase & Co. boosted its position in VEON by 267.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock valued at $2,572,000 after purchasing an additional 40,614 shares during the period. Finally, Bank of America Corp DE boosted its position in VEON by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock valued at $2,468,000 after purchasing an additional 538 shares during the period. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.