VEON (NASDAQ:VEON) Sets New 1-Year High - What's Next?

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 hit 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 trading hands. The stock had previously closed at $59.25.

Analyst Ratings Changes

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

VEON Price Performance

The stock has a market cap of $4.47 billion, a PE ratio of 4.43 and a beta of 1.50. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The company's fifty day moving average is $48.66 and its 200 day moving average is $46.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Samson Rock Capital LLP purchased a new stake in shares of VEON in the second quarter worth about $138,000. GAMMA Investing LLC boosted its holdings in VEON by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock worth $158,000 after acquiring an additional 635 shares during the period. BNP Paribas Financial Markets acquired a new stake in VEON in the fourth quarter valued at approximately $163,000. JPMorgan Chase & Co. raised its stake in shares of VEON by 120.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock valued at $235,000 after purchasing an additional 3,200 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of VEON during the fourth quarter worth $236,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

About VEON

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.