VEON (NASDAQ:VEON) Shares Gap Up - What's Next?

VEON Ltd. (NASDAQ:VEON - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $49.40, but opened at $53.57. VEON shares last traded at $52.33, with a volume of 203,776 shares changing hands.

Wall Street Analysts Forecast Growth

VEON has been the topic of a number of recent analyst reports. Benchmark restated a "buy" rating and issued a $60.00 price target on shares of VEON in a research report on Monday, June 16th. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Finally, Litchfield Hills Research raised VEON to a "strong-buy" rating in a research report on Thursday, June 26th.

VEON Stock Up 0.4%

The stock has a 50 day simple moving average of $47.43 and a 200-day simple moving average of $44.99. The firm has a market cap of $4.00 billion, a PE ratio of 8.52 and a beta of 1.44. 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 results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.53. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million. VEON had a return on equity of 36.24% and a net margin of 11.18%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its position in shares of VEON by 177.9% in the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider's stock valued at $714,000 after acquiring an additional 10,483 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of VEON by 84,690.0% in the first quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider's stock valued at $740,000 after purchasing an additional 16,938 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of VEON in the first quarter valued at approximately $400,000. Cubist Systematic Strategies LLC increased its holdings in shares of VEON by 783.6% in the first quarter. Cubist Systematic Strategies LLC now owns 53,936 shares of the Wireless communications provider's stock valued at $2,352,000 after purchasing an additional 47,832 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in VEON by 407.2% during the first quarter. Walleye Capital LLC now owns 33,362 shares of the Wireless communications provider's stock worth $1,455,000 after acquiring an additional 26,784 shares during the last quarter. 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.