Wall Street Zen Upgrades VEON (NASDAQ:VEON) to Strong-Buy

Key Points

• Wall Street Zen upgraded VEON from “buy” to “strong-buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $90.33.
• Third-quarter revenue rose 17.2% year over year to $1.307 billion, with digital services making up 27.2% of revenue; VEON also raised the midpoint of its 2026 revenue and EBITDA outlook. EPS of $2.67 beat estimates, though one-time gains contributed substantially to the result.
• VEON completed its $81 million acquisition of OLX Kazakhstan and plans to acquire a 33.75% interest in Jungo TV to expand digital commerce and entertainment. The company has also identified fuel shortages as a significant operational risk.

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

Several other brokerages have also recently issued reports on VEON. Northland Securities set a $85.00 price objective on shares of VEON and gave the stock an "outperform" rating in a research note on Tuesday, September 29th. Zacks Research raised VEON from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Cantor Fitzgerald assumed coverage on shares of VEON in a research report on Friday, October 2nd. They issued an "overweight" rating and a $112.00 price target on the stock. Finally, Weiss Ratings raised shares of VEON from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.33.

VEON Stock Performance

VEON opened at $77.57 on Friday. VEON has a 1-year low of $42.60 and a 1-year high of $89.00. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30. The company's fifty day moving average price is $74.68 and its two-hundred day moving average price is $58.39. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 20.75 and a beta of 1.65.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The Wireless communications provider reported $2.67 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.95. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.31 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%. On average, analysts expect that VEON will post 7.39 EPS for the current fiscal year.

Institutional Investors Weigh In On VEON

Institutional investors have recently made changes to their positions in the company. R Squared Ltd grew its stake in VEON by 2.6% during the 3rd quarter. R Squared Ltd now owns 6,110 shares of the Wireless communications provider's stock worth $452,000 after buying an additional 153 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of VEON by 7.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider's stock valued at $386,000 after acquiring an additional 500 shares during the last quarter. Personal CFO Solutions LLC raised its stake in VEON by 14.4% during the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider's stock valued at $217,000 after acquiring an additional 592 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in VEON in the 3rd quarter valued at approximately $53,000. Finally, QRG Capital Management Inc. increased its stake in VEON by 10.7% in the second quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider's stock valued at $1,015,000 after purchasing an additional 1,879 shares during the last quarter. Institutional investors own 21.30% of the company's stock.

Key Stories Impacting VEON

Here are the key news stories impacting VEON this week:

• Positive Sentiment: Third-quarter revenue rose 17.2% year over year to $1.307 billion, while digital services reached 27.2% of revenue. VEON raised the midpoint of its 2026 revenue and EBITDA outlook; revenue guidance is $5.1 billion–$5.2 billion, around analyst expectations. VEON Q3 results and outlook
• Positive Sentiment: VEON completed its $81 million acquisition of OLX Kazakhstan, adding a large classifieds platform to its digital-commerce operations. The deal was also cited alongside the company’s swing to a third-quarter profit. OLX Kazakhstan acquisition
• Positive Sentiment: The company plans to acquire a 33.75% interest in Jungo TV, including access to All Women’s Sports Network content. VEON aims to use its platforms and Jungo’s distribution reach to grow digital entertainment. Jungo TV and AWSN investment
• Neutral Sentiment: VEON reported EPS of $2.67, well above the $1.72 consensus, but coverage noted the beat was substantially driven by one-time gains, making it a less clear measure of recurring performance. Revenue was in line with estimates. Q3 earnings analysis
• Negative Sentiment: VEON identified fuel shortages as its biggest threat, a potential operational risk that could weigh on its markets even as it pursues growth in satellite data and digital services. Fuel shortages and growth risks

VEON Company Profile

VEON Ltd. is a global digital communications and services company that provides mobile connectivity, fixed broadband, and digital products to consumers and businesses. The company operates through a portfolio of local telecommunications brands, offering voice and messaging services, mobile data, broadband access, and related enterprise solutions.

VEON's principal operating brands include Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline-branded businesses in Kazakhstan, Uzbekistan, and Kyrgyzstan.

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