VEON (NASDAQ:VEON) Upgraded to "Buy" at Wall Street Zen

Key Points

• VEON was upgraded to “Buy” by Wall Street Zen, which moved the stock up from a “hold” rating in a report released Sunday.
• Other analysts remain broadly positive: VEON now has a consensus Buy rating with an average price target of $67.00, while Rothschild & Co Redburn set a $74.00 target and Zacks upgraded it to Strong Buy.
• The stock recently traded at $49.50, below the analyst average target, and VEON reported Q4 revenue of $1.17 billion with an EPS loss of $0.44.

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

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

VEON Stock Performance

Shares of VEON opened at $49.50 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 2.47. The company has a 50-day moving average of $50.93 and a two-hundred day moving average of $51.55. The stock has a market cap of $3.66 billion, a P/E ratio of 6.66 and a beta of 1.61. VEON has a 12-month low of $34.55 and a 12-month high of $64.00.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VEON. Osaic Holdings Inc. lifted its holdings in VEON by 36.8% in 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. Royal Bank of Canada grew its stake in shares of VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider's stock worth $128,000 after purchasing an additional 1,576 shares during the last quarter. Personal CFO Solutions LLC acquired a new position in shares of VEON in the 3rd quarter worth approximately $208,000. Truist Financial Corp bought a new stake in shares of VEON in the 3rd quarter worth approximately $208,000. Finally, CWM LLC bought a new stake in shares of VEON in the 4th quarter worth approximately $219,000. 21.30% of the stock is 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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