VEON (NASDAQ:VEON) Trading 7.3% Higher - Should You Buy?

Key Points

• VEON Ltd.'s stock price increased by 7.3% during mid-day trading, reaching a high of $55.41, although trading volume was down by 47% compared to average levels.
• Multiple analysts have upgraded VEON's stock rating to "strong buy", with a current average target price of $60.00.
• VEON reported an EPS of $8.30 for the last quarter, significantly exceeding analysts' expectations by $7.35, along with revenue of $1.09 billion.

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s stock price was up 7.3% during mid-day trading on Thursday . The stock traded as high as $53.49 and last traded at $55.41. Approximately 93,965 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 178,395 shares. The stock had previously closed at $51.63.

Analyst Ratings Changes

VEON has been the topic of a number of recent analyst reports. Litchfield Hills Research upgraded shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of VEON in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $60.00.

VEON Trading Up 6.4%

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 firm has a market capitalization of $4.06 billion, a P/E ratio of 4.03 and a beta of 1.58. The firm has a 50-day moving average of $54.84 and a two-hundred day moving average of $49.70.

VEON (NASDAQ:VEON - Get Free Report) last posted its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating the consensus estimate of $0.95 by $7.35. VEON had a return on equity of 72.76% and a net margin of 23.75%.The firm 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of VEON by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider's stock worth $28,220,000 after buying an additional 117,945 shares during the last quarter. Lingotto Investment Management LLP grew its position in VEON by 1.2% in the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider's stock worth $274,470,000 after acquiring an additional 70,659 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of VEON by 783.6% during 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 buying an additional 47,832 shares during the period. JPMorgan Chase & Co. boosted its position in shares of VEON by 267.0% during the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider's stock valued at $2,572,000 after buying an additional 40,614 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of VEON by 2,404.0% during the first quarter. SBI Securities Co. Ltd. now owns 35,983 shares of the Wireless communications provider's stock valued at $1,569,000 after acquiring an additional 34,546 shares in the last quarter. 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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