VEON Ltd. (NASDAQ:VEON) Stock Has Average Target Price of $90.33

Key Points

• VEON has a “Moderate Buy” consensus rating from six analysts, with four buys and two holds. The average 12-month price target is $90.33, including targets of $112 from Cantor Fitzgerald and $85 from Northland Securities.
• VEON shares opened at $77.19, near their 12-month high of $78.83, and are up from their 50-day and 200-day moving averages. The company recently exceeded quarterly expectations, reporting $1.69 in earnings per share versus a $1.46 consensus and revenue of $1.27 billion.
• Insider and institutional activity has been supportive: a director purchased 5,000 shares, while several investment firms increased their holdings. Hedge funds and other institutions collectively own 21.30% of VEON’s stock.

VEON Ltd. (NASDAQ:VEON - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $90.33.

A number of analysts recently weighed in on the company. Wall Street Zen downgraded VEON from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Cantor Fitzgerald assumed coverage on shares of VEON in a research report on Friday, October 2nd. They set an "overweight" rating and a $112.00 price target for the company. Northland Securities set a $85.00 price target on VEON and gave the stock an "outperform" rating in a research report on Tuesday, September 29th. Benchmark reiterated a "buy" rating on shares of VEON in a research report on Monday, June 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of VEON in a research note on Thursday, August 13th.

Insider Activity at VEON

In related news, Director K II bought 5,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $56.02 per share, with a total value of $280,100.00. Following the purchase, the director owned 96,000 shares of the company's stock, valued at approximately $5,377,920. This trade represents a 5.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VEON. K2 Principal Fund L.P. purchased a new position in VEON in the 4th quarter worth about $1,015,000. Cygnus Capital Advisors LLC boosted its holdings in shares of VEON by 36.8% during the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider's stock valued at $2,777,000 after acquiring an additional 14,300 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of VEON by 82.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider's stock worth $1,541,000 after acquiring an additional 13,315 shares during the period. Dorsey Wright & Associates grew its position in VEON by 45.7% in the 1st quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider's stock worth $1,642,000 after purchasing an additional 11,129 shares during the period. Finally, Diversify Wealth Management LLC grew its position in VEON by 43.0% in the 1st quarter. Diversify Wealth Management LLC now owns 30,497 shares of the Wireless communications provider's stock worth $1,497,000 after purchasing an additional 9,168 shares during the period. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Stock Up 1.0%

Shares of NASDAQ VEON opened at $77.19 on Thursday. VEON has a 12 month low of $42.60 and a 12 month high of $78.83. 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 firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 90.81 and a beta of 1.62. The business has a 50-day moving average of $64.05 and a 200-day moving average of $56.12.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm posted $8.30 earnings per share. Sell-side analysts expect that VEON will post 7.39 earnings per share for the current fiscal year.

VEON Company Profile

VEON Ltd. is a global telecommunications and digital services company that provides mobile and fixed connectivity, communications services, and digital products through operating companies in emerging markets. Its services include voice and data plans, broadband access, mobile financial services, digital entertainment, and business solutions for consumers and enterprises.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.