VEON Ltd. (NASDAQ:VEON) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analyst consensus: VEON has an average rating of "Buy" from five analysts (two buy, two strong-buy, one hold) with a mean 1‑year price target of $67.00.
• Market snapshot: Shares traded at $53.80 (+2.3%) with a 12‑month range of $34.55–$64.00, market cap ~ $3.98B, P/E 7.26 and debt/equity 2.47.
• Recent results and investor activity: VEON reported quarterly EPS of ($0.44) on $1.17B in revenue, and several institutional investors have added or opened positions, leaving ~21.3% of the stock owned by hedge funds and other institutions.

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) have earned an average rating of "Buy" from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $67.00.

Several equities research analysts have weighed in on the company. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 19th. Weiss Ratings reissued a "hold (c)" rating on shares of VEON in a report on Monday, December 29th. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen upgraded VEON from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Finally, Benchmark restated a "buy" rating on shares of VEON in a research note on Friday, March 13th.

VEON Stock Up 2.3%

VEON stock traded up $1.20 during trading on Thursday, reaching $53.80. 12,604 shares of the company traded hands, compared to its average volume of 96,869. VEON has a 12 month low of $34.55 and a 12 month high of $64.00. The business has a 50 day simple moving average of $51.56 and a 200 day simple moving average of $51.55. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.26 and a beta of 1.67. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.90 and a current ratio of 0.91.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share for the quarter. The business had revenue of $1.17 billion during the quarter. VEON had a return on equity of 47.86% and a net margin of 12.12%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Panview Capital Ltd purchased a new position in VEON during the third quarter valued at approximately $22,481,000. Wellington Management Group LLP raised its position in VEON by 66.5% during the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider's stock valued at $51,382,000 after acquiring an additional 390,294 shares in the last quarter. Mackenzie Financial Corp purchased a new position in VEON during the third quarter valued at approximately $15,005,000. Pictet Asset Management Holding SA raised its position in VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider's stock valued at $11,862,000 after acquiring an additional 98,618 shares in the last quarter. Finally, Millennium Management LLC raised its position in VEON by 275.3% during the third quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider's stock valued at $7,265,000 after acquiring an additional 97,913 shares in the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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