VEON (NASDAQ:VEON) Stock Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• VEON shares rose above their 50-day moving average, trading as high as $77.28 and last at $76.42, versus a 50-day average of $75.56.
• Analysts have a Moderate Buy consensus and an average price target of $90.33; five analysts rate the stock Buy and one Hold.
• VEON reported quarterly EPS of $2.67, beating the $1.73 consensus estimate, while revenue of $1.31 billion matched expectations.

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $75.56 and traded as high as $77.28. VEON shares last traded at $76.42, with a volume of 169,991 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 7th. Weiss Ratings raised VEON from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. 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. Cantor Fitzgerald began coverage on VEON in a research report on Friday, October 2nd. They set an "overweight" rating and a $112.00 price target on the stock. Finally, Zacks Research raised VEON from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.33.

VEON Stock Up 1.2%

The firm has a market cap of $5.65 billion, a PE ratio of 14.26 and a beta of 1.65. The business's 50 day moving average price is $75.56 and its 200 day moving average price is $58.72. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.95 and a quick ratio of 0.96.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The Wireless communications provider reported $2.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.94. VEON had a net margin of 7.62% and a return on equity of 20.20%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. On average, equities research analysts expect that VEON Ltd. will post 7.51 earnings per share for the current year.

Institutional Trading of VEON

Institutional investors have recently made changes to their positions in the company. R Squared Ltd raised its stake in VEON by 2.6% in the 3rd quarter. R Squared Ltd now owns 6,110 shares of the Wireless communications provider's stock valued at $452,000 after purchasing an additional 153 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of VEON by 7.2% in the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider's stock valued at $386,000 after buying an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of VEON in the third quarter valued at about $53,000. QRG Capital Management Inc. raised its position in shares of VEON by 10.7% in the second quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider's stock valued at $1,015,000 after buying an additional 1,879 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of VEON by 2.8% in the first quarter. Bank of America Corp DE now owns 69,754 shares of the Wireless communications provider's stock worth $3,230,000 after buying an additional 1,923 shares in the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd. is an international telecommunications and digital services company that provides mobile and fixed connectivity, along with consumer and business services. Its offerings include voice and data plans, broadband, digital payments, entertainment, and other services delivered through its networks and digital platforms. The company serves customers in Bangladesh, Kazakhstan, Kyrgyzstan, Pakistan, Ukraine, and Uzbekistan through local operating companies and brands, including Banglalink, Jazz, Kyivstar, and Beeline.

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