VEON (NASDAQ:VEON) Stock Rating Raised to Strong-Buy at Wall Street Zen

VEON (NASDAQ:VEON - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Sunday, Wall Street Zen reports.

VEON has been the topic of several other research reports. Cantor Fitzgerald assumed coverage on shares of VEON in a research note on Friday, October 2nd. They set an "overweight" rating and a $112.00 price objective on the stock. Northland Securities set a $85.00 price target on VEON and gave the company an "outperform" rating in a report on Tuesday, September 29th. Zacks Research upgraded VEON from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised VEON from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, November 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.

VEON Price Performance

VEON stock traded up $4.02 during midday trading on Friday, reaching $79.17. 137,524 shares of the company were exchanged, compared to its average volume of 171,276. The firm's 50-day simple moving average is $76.00 and its 200-day simple moving average is $58.95. VEON has a 1 year low of $44.00 and a 1 year high of $89.00. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 14.77 and a beta of 1.65. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.96 and a current ratio of 0.95.

VEON (NASDAQ:VEON - Get Free Report) last released its earnings results on Friday, November 6th. The Wireless communications provider reported $2.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.94. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. VEON had a net margin of 7.62% and a return on equity of 20.20%. On average, analysts anticipate that VEON will post 7.51 EPS for the current year.

Institutional Investors Weigh In On VEON

Hedge funds have recently modified their holdings of the stock. R Squared Ltd grew its holdings in VEON by 2.6% during the 3rd quarter. R Squared Ltd now owns 6,110 shares of the Wireless communications provider's stock valued at $452,000 after purchasing an additional 153 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in VEON in the 3rd quarter worth $53,000. Crossmark Global Holdings Inc. acquired a new position in VEON in the 3rd quarter worth $243,000. QRG Capital Management Inc. boosted its position in VEON by 10.7% in the 2nd quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider's stock valued at $1,015,000 after buying an additional 1,879 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in VEON in the 2nd quarter valued at about $170,000. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd. is an international telecommunications and digital services company that provides mobile and fixed connectivity, along with consumer and business services. Its offerings include voice and data plans, broadband, digital payments, entertainment, and other services delivered through its networks and digital platforms. The company serves customers in Bangladesh, Kazakhstan, Kyrgyzstan, Pakistan, Ukraine, and Uzbekistan through local operating companies and brands, including Banglalink, Jazz, Kyivstar, and Beeline.

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