VEON (NASDAQ:VEON) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• VEON shares rose above their 200-day moving average, reaching $84.50 before last trading at $82.18, compared with a 200-day average of $57.98.
• VEON agreed to acquire Uzbekistan’s Perfectum mobile network for approximately $207 million, while more than 11 million customers have adopted its Starlink Mobile direct-to-device service across three markets.
• Analysts maintain a generally positive view, with an average “Moderate Buy” rating and a $90.33 price target, though VEON’s elevated P/E ratio, 2.30 debt-to-equity ratio and acquisition-integration risks remain important considerations.

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $57.98 and traded as high as $84.50. VEON shares last traded at $82.18, with a volume of 116,998 shares trading hands.

More VEON News

Here are the key news stories impacting VEON this week:

• Positive Sentiment: Uzbekistan expansion: VEON agreed to acquire 100% of Rubicon Wireless, which operates the Perfectum mobile network, for approximately $207 million. The deal strengthens VEON’s Beeline Uzbekistan business in a market of nearly 40 million people, adds spectrum resources and could accelerate growth in 5G, broadband and digital services. VEON Accelerates Telecom Market Consolidation in Uzbekistan
• Positive Sentiment: Starlink Mobile adoption: More than 11 million unique VEON customers across three high-growth markets have connected to Starlink Mobile’s direct-to-device service within less than a year. The service enables messaging, location sharing and satellite-ready applications on existing LTE-compatible phones in areas without terrestrial coverage, highlighting a potentially valuable new connectivity and digital-services channel. Starlink Mobile Connects 11 Million People Across VEON's Three High Growth Markets
• Neutral Sentiment: The Perfectum acquisition could increase VEON’s scale and competitive position, but investors will likely monitor regulatory approval, integration, expected synergies and how the $207 million purchase is financed. The transaction also comes as VEON trades at a relatively elevated earnings multiple and carries meaningful leverage, making disciplined capital allocation important.

Analyst Upgrades and Downgrades

VEON has been the subject of several research reports. Wall Street Zen cut shares of VEON from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 6th. Cantor Fitzgerald assumed coverage on VEON in a research report on Friday, October 2nd. They set an "overweight" rating and a $112.00 target price on the stock. Northland Securities set a $85.00 price target on VEON and gave the company an "outperform" rating in a research note on Tuesday, September 29th. Weiss Ratings upgraded VEON from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Zacks Research raised VEON from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, VEON currently has an average rating of "Moderate Buy" and an average price target of $90.33.

VEON Stock Performance

The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30. The firm has a 50-day moving average of $68.21 and a 200 day moving average of $57.98. The stock has a market capitalization of $6.08 billion, a P/E ratio of 96.68 and a beta of 1.62.

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

Insider Activity at VEON

In other VEON news, Director K II bought 15,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the transaction, the director owned 91,000 shares in the company, valued at approximately $5,096,000. The trade was a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of VEON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in shares of VEON by 10.7% in the 2nd 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 period. Integrated Wealth Concepts LLC bought a new position in shares of VEON during the 2nd quarter worth approximately $170,000. Cygnus Capital Advisors LLC lifted its position 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 worth $2,777,000 after buying an additional 14,300 shares during the period. Handelsbanken Fonder AB lifted its position in shares of VEON by 7.2% during the 2nd 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 period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in VEON by 82.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider's stock valued at $1,541,000 after buying an additional 13,315 shares in the last quarter. Institutional investors own 21.30% of the company's stock.

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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