VEON (NASDAQ:VEON) Reaches New 52-Week High - Still a Buy?

Key Points

• VEON Ltd. shares hit a new 52-week high of $59.88, indicating strong market performance with a recent trading price of $59.67.
• Analysts have upgraded VEON to a "strong-buy" rating, suggesting positive sentiment towards the company's future profitability.
• VEON reported an impressive quarterly earnings of $8.30 EPS, significantly beating the consensus estimate of $0.95, along with a revenue of $1.09 billion.

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $59.88 and last traded at $59.67, with a volume of 4419 shares changing hands. The stock had previously closed at $59.25.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VEON shares. Litchfield Hills Research upgraded VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Finally, Benchmark reiterated a "buy" rating and set a $60.00 price objective on shares of VEON in a research report on Monday, June 16th.

VEON Stock Performance

The firm has a market capitalization of $4.27 billion, a P/E ratio of 4.23 and a beta of 1.50. The stock has a fifty day simple moving average of $48.21 and a two-hundred day simple moving average of $46.40. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating the consensus estimate of $0.95 by $7.35. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.02 billion. VEON had a return on equity of 75.40% and a net margin of 23.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VEON. Samson Rock Capital LLP purchased a new position in shares of VEON during the 2nd quarter valued at $138,000. GAMMA Investing LLC boosted its position in shares of VEON by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after acquiring an additional 635 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of VEON during the 4th quarter valued at about $163,000. JPMorgan Chase & Co. raised its holdings in shares of VEON by 120.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock valued at $235,000 after buying an additional 3,200 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of VEON during the 4th quarter valued at about $236,000. Hedge funds and other institutional investors own 21.30% of the company's stock.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.

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