Zegona Communications (LON:ZEG) Price Target Lowered to GBX 2,450 at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Zegona Communications’ price target to GBX 2,450 from GBX 2,500 while maintaining a “buy” rating, implying 34.91% upside from the current price.
• Analyst sentiment remains positive, with Deutsche Bank and Berenberg also issuing “buy” ratings; Zegona has a consensus “Buy” rating and average target price of GBX 2,316.67.
• Zegona shares rose 1.2% to open at GBX 1,816, while insiders recently bought shares and collectively own 41.82% of the company.

Zegona Communications (LON:ZEG - Get Free Report) had its price target reduced by Canaccord Genuity Group from GBX 2,500 to GBX 2,450 in a note issued to investors on Thursday, Digital Look reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 34.91% from the stock's current price.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 2,200 price objective on shares of Zegona Communications in a report on Thursday, August 13th. Berenberg Bank reissued a "buy" rating and issued a GBX 2,300 price target on shares of Zegona Communications in a research report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 2,316.67.

Zegona Communications Stock Up 1.2%

ZEG stock opened at GBX 1,816 on Thursday. The stock's 50 day simple moving average is GBX 1,559.33 and its 200 day simple moving average is GBX 1,672.31. Zegona Communications has a fifty-two week low of GBX 1,145 and a fifty-two week high of GBX 1,962. The company has a debt-to-equity ratio of 592.64, a quick ratio of 6.23 and a current ratio of 0.70. The company has a market cap of £4.10 billion, a P/E ratio of -60.53 and a beta of 3.41.

Insider Buying and Selling

In related news, insider Suzi Williams acquired 1,632 shares of the firm's stock in a transaction on Monday, June 29th. The stock was purchased at an average cost of GBX 1,716 per share, with a total value of £28,005.12. Also, insider Timothy Pennington acquired 6,588 shares of the stock in a transaction dated Wednesday, August 5th. The stock was bought at an average cost of GBX 15 per share, with a total value of £988.20. Insiders own 41.82% of the company's stock.

About Zegona Communications

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson. In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.

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