VEON (NASDAQ:VEON) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded VEON (NASDAQ:VEON) from a Buy to a Hold in a report released Saturday.
• Despite the downgrade, the consensus remains a Buy with an average price target of $67 — analysts: two Strong Buy, two Buy and one Hold.
• VEON trades near $50.29 with a $3.72B market cap, a P/E of 6.77, a 1‑year range of $34.55–$64.00, last-quarter EPS of ($0.44) and a debt/equity ratio of 2.47.

VEON (NASDAQ:VEON - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other brokerages also recently weighed in on VEON. Benchmark reiterated a "buy" rating on shares of VEON in a report on Friday, March 13th. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Zacks Research upgraded VEON from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $67.00.

VEON Price Performance

NASDAQ:VEON opened at $50.29 on Friday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.77 and a beta of 1.67. VEON has a 1 year low of $34.55 and a 1 year high of $64.00. The business has a 50 day simple moving average of $51.34 and a 200-day simple moving average of $51.60. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.91 and a quick ratio of 0.90.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share for the quarter. VEON had a return on equity of 47.86% and a net margin of 12.12%.The business had revenue of $1.17 billion during the quarter. Equities analysts forecast that VEON will post 8.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Truist Financial Corp increased its holdings in VEON by 5.1% during the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider's stock worth $211,000 after purchasing an additional 195 shares during the period. Personal CFO Solutions LLC increased 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 worth $215,000 after purchasing an additional 268 shares during the period. Tidal Investments LLC increased its holdings in VEON by 4.8% during the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider's stock worth $336,000 after purchasing an additional 336 shares during the period. Severin Investments LLC increased its holdings in VEON by 4.2% during the 4th quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider's stock worth $466,000 after purchasing an additional 353 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in 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 during the period. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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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