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

Key Points

• Analysts broadly favor VEON: Six analysts give the stock a “Moderate Buy” consensus, including five buy ratings and one hold. The average 12-month price target is $90.33, versus an opening price of $82.54.
• VEON exceeded quarterly expectations: The company reported earnings of $1.69 per share, beating the $1.46 consensus estimate, while revenue reached $1.27 billion versus forecasts of $1.23 billion.
• Insider and institutional interest increased: A company director purchased 5,000 shares, while several investment firms initiated or expanded positions. Institutional investors collectively own 21.30% of VEON.

VEON Ltd. (NASDAQ:VEON - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $90.33.

Several research analysts have issued reports on the company. Zacks Research raised VEON from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of VEON from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Wall Street Zen lowered shares of VEON from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 6th. Cantor Fitzgerald started coverage on VEON in a research note on Friday, October 2nd. They issued an "overweight" rating and a $112.00 target price for the company. Finally, Northland Securities set a $85.00 price target on VEON and gave the company an "outperform" rating in a report on Tuesday, September 29th.

Insiders Place Their Bets

In other news, Director K II bought 5,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $56.02 per share, for a total transaction of $280,100.00. Following the completion of the transaction, the director owned 96,000 shares of the company's stock, valued at $5,377,920. This trade represents a 5.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of VEON

A number of large investors have recently made changes to their positions in VEON. Mirae Asset Global Investments Co. Ltd. acquired a new position in VEON in the third quarter valued at approximately $53,000. Crossmark Global Holdings Inc. bought a new stake in shares of VEON in the 3rd quarter worth about $243,000. QRG Capital Management Inc. raised its position in shares of VEON by 10.7% during the 2nd quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider's stock worth $1,015,000 after buying an additional 1,879 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in VEON in the 2nd quarter worth about $170,000. Finally, Cygnus Capital Advisors LLC raised its holdings in VEON by 36.8% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider's stock worth $2,777,000 after acquiring an additional 14,300 shares during the period. 21.30% of the stock is currently owned by institutional investors.

VEON Stock Performance

NASDAQ VEON opened at $82.54 on Monday. The firm has a market capitalization of $6.11 billion, a PE ratio of 97.11 and a beta of 1.62. VEON has a one year low of $42.60 and a one year high of $89.00. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97. The company has a 50-day simple moving average of $72.97 and a 200-day simple moving average of $57.79.

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

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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