VEON (NASDAQ:VEON) Reaches New 1-Year High - Still a Buy?

Key Points

• VEON reached a new 52-week high, trading as high as $69.89 and last changing hands near $70.11, up from its previous close of $68.51.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $72.00.
• VEON exceeded quarterly expectations, reporting $1.69 in earnings per share versus a $1.46 estimate and revenue of $1.27 billion against forecasts of $1.23 billion; an insider also purchased 5,000 shares.

VEON Ltd. (NASDAQ:VEON - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $69.89 and last traded at $70.1050, with a volume of 29464 shares trading hands. The stock had previously closed at $68.51.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VEON shares. Zacks Research raised shares of VEON from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Benchmark reiterated a "buy" rating on shares of VEON in a research note on Monday, June 15th. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. Northland Securities started coverage on VEON in a research note on Tuesday, June 9th. They set an "outperform" rating and a $70.00 target price on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of VEON in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.00.

VEON Stock Performance

The company has a fifty day moving average price of $57.88 and a two-hundred day moving average price of $53.94. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 83.31 and a beta of 1.63. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the business earned $8.30 earnings per share. As a group, equities research analysts expect that VEON Ltd. will post 7.39 EPS for the current year.

Insider Buying and Selling

In other VEON news, Director K II bought 5,000 shares of VEON stock in a transaction that occurred 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 acquisition, the director owned 96,000 shares of the company's stock, valued at approximately $5,377,920. This represents a 5.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On VEON

Large investors have recently modified their holdings of the stock. Truist Financial Corp raised its stake in shares of VEON by 5.1% in the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider's stock worth $211,000 after acquiring an additional 195 shares during the last quarter. Severin Investments LLC boosted its stake in shares of VEON by 4.2% in the 4th quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider's stock valued at $466,000 after purchasing an additional 353 shares during the last quarter. RWC Asset Management LLP grew its position in shares of VEON by 1.1% during the 4th quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider's stock worth $2,000,000 after buying an additional 422 shares during the period. Handelsbanken Fonder AB raised its stake in shares of VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider's stock worth $386,000 after buying an additional 500 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in VEON by 14.4% in the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider's stock valued at $217,000 after buying an additional 592 shares during the period. 21.30% of the stock is owned by institutional investors.

VEON Company Profile

VEON Ltd. NASDAQ: VEON is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

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

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