VEON (NASDAQ:VEON) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• VEON Ltd.'s stock price has surpassed its 200-day moving average, reaching a high of $53.96 before settling at $52.80.
• Wall Street analysts have shown confidence in VEON, with several upgrades to a "strong-buy" rating and a consensus price target of $60.00.
• In its latest quarterly earnings report, VEON exceeded expectations with an EPS of $8.30, compared to a consensus estimate of $0.95, and revenues of $1.09 billion, surpassing the expected $1.02 billion.

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.34 and traded as high as $53.96. VEON shares last traded at $52.80, with a volume of 72,570 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Zacks Research raised shares of VEON from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of VEON in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $60.00.

VEON Stock Performance

The stock's 50 day moving average price is $55.33 and its 200 day moving average price is $49.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.57. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 3.87 and a beta of 1.58.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings data 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 net margin of 23.75% and a return on equity of 72.76%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. 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 valued at $66,000 after acquiring an additional 388 shares during the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON during the 2nd quarter valued at about $138,000. GAMMA Investing LLC increased 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 valued at $158,000 after acquiring an additional 635 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of VEON during the 2nd quarter valued at about $243,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of VEON during the 2nd quarter worth about $267,000. Institutional investors and hedge funds 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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