VEON (NASDAQ:VEON) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• VEON Ltd. shares crossed above their 200-day moving average of $49.69, trading as high as $50.01 before closing at $48.85.
• Wall Street analyst ratings for VEON have improved, with multiple firms upgrading the stock to a strong-buy rating, while the average target price is set at $60.00.
• VEON reported a quarterly EPS of $8.30, significantly exceeding the consensus estimate of $0.95, and achieved a revenue of $1.09 billion compared to the expected $1.02 billion.

VEON Ltd. (NASDAQ:VEON - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $49.69 and traded as high as $50.01. VEON shares last traded at $48.85, with a volume of 61,378 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on VEON. Wall Street Zen raised shares of VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of VEON in a research note on Wednesday, October 8th. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Zacks Research raised shares of VEON from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $60.00.

VEON Trading Down 1.4%

The stock has a market capitalization of $3.61 billion, a P/E ratio of 3.58 and a beta of 1.58. The firm's 50 day moving average price is $54.86 and its 200 day moving average price is $49.69. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.87 and a quick ratio of 0.87.

VEON (NASDAQ:VEON - Get Free Report) last issued 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 net margin of 23.75% and a return on equity of 72.76%. VEON has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On VEON

Hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock valued at $66,000 after acquiring an additional 388 shares during the last quarter. Samson Rock Capital LLP purchased a new position in shares of VEON during the second quarter valued at about $138,000. GAMMA Investing LLC increased its position in shares of VEON by 21.3% during the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after buying an additional 635 shares during the period. Engineers Gate Manager LP purchased a new position in shares of VEON during the second quarter valued at about $243,000. Finally, Handelsbanken Fonder AB purchased a new position in shares of VEON during the second quarter valued at about $267,000. 21.30% of the stock is owned by institutional investors.

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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