VEON (NASDAQ:VEON) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• VEON shares moved above their 200-day moving average during Monday trading, briefly touching $53.91 before last trading around $52.05. This technical move comes as the stock was down 2.3% on the session.
• Analyst sentiment is mixed, with recent rating changes including a downgrade from Zacks Research to “strong sell” and buy ratings from Benchmark and others. Overall, the stock carries a consensus rating of Hold with a $72 average price target.
• The company has modest valuation and solid profitability metrics, including a P/E ratio of 6.98, net margin of 11.65%, and return on equity of 44.43%. VEON also reported quarterly EPS of $1.50, and analysts expect 6.99 EPS for the current fiscal year.

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $52.45 and traded as high as $53.91. VEON shares last traded at $52.05, with a volume of 46,062 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on VEON shares. Zacks Research cut shares of VEON from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 16th. Benchmark reissued a "buy" rating on shares of VEON in a research note on Monday, June 15th. Wall Street Zen cut VEON from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 26th. Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, Northland Securities assumed coverage on VEON in a report on Tuesday, June 9th. They set an "outperform" rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $72.00.

VEON Stock Down 2.3%

The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.86. The firm's 50-day moving average is $52.73 and its 200 day moving average is $52.45. The firm has a market capitalization of $3.85 billion, a PE ratio of 6.98 and a beta of 1.64.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, research analysts forecast that VEON Ltd. will post 6.99 earnings per share for the current fiscal year.

Institutional Trading of VEON

Several large investors have recently modified their holdings of VEON. Osaic Holdings Inc. increased its stake in shares of VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock worth $66,000 after purchasing an additional 388 shares in the last quarter. Royal Bank of Canada lifted its stake in VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider's stock valued at $128,000 after buying an additional 1,576 shares in the last quarter. Truist Financial Corp lifted its stake in VEON by 5.1% in the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider's stock valued at $211,000 after buying an additional 195 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in VEON by 7.0% during the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider's stock valued at $215,000 after buying an additional 268 shares during the last quarter. Finally, CWM LLC acquired a new stake in VEON during the 4th quarter valued at $219,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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