VEON (NASDAQ:VEON) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• VEON Ltd. shares crossed above their 200-day moving average of $46.81, currently trading at $60.44 with a volume of 565,457 shares.
• Analysts have raised VEON's rating to "strong-buy", with Benchmark setting a price target of $60.00.
• The company reported a significant earnings surprise with an EPS of $8.30 for the quarter, outperforming the expected $0.95 by $7.35.

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.81 and traded as high as $62.00. VEON shares last traded at $60.44, with a volume of 565,457 shares traded.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Litchfield Hills Research raised VEON to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Benchmark reissued a "buy" rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th.

VEON Stock Up 4.0%

The business has a 50 day simple moving average of $48.90 and a 200 day simple moving average of $46.81. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $4.47 billion, a PE ratio of 4.43 and a beta of 1.50.

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

Institutional Trading of VEON

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake 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 worth $158,000 after acquiring an additional 635 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of VEON during the 4th quarter worth about $163,000. Bank of America Corp DE boosted its stake in shares of VEON by 33.6% during the 4th quarter. Bank of America Corp DE now owns 26,468 shares of the Wireless communications provider's stock worth $1,061,000 after acquiring an additional 6,659 shares in the last quarter. Cyrus Capital Partners L.P. bought a new stake in shares of VEON during the 4th quarter worth about $2,994,000. Finally, J. Goldman & Co LP bought a new stake in shares of VEON during the 4th quarter worth about $2,084,000. Institutional investors own 21.30% of the company's stock.

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.

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