Weiss Ratings Reaffirms "Hold (C+)" Rating for VEON (NASDAQ:VEON)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for VEON, while other analysts, including Zacks and Benchmark, have issued more favorable ratings, with a consensus rating of "Buy" and a price target of $60.00.
• VEON's stock has experienced a 3.5% drop, trading at $49.75, and the company has a market cap of $3.68 billion, alongside strong recent earnings that surpassed expected estimates.
• Institutional investors have increased their positions in VEON, with 21.30% of the company's stock now held by hedge funds, indicating growing confidence in the company's prospects.

VEON (NASDAQ:VEON - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

VEON has been the subject of a number of other research reports. Zacks Research raised shares of VEON from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Benchmark reissued a "buy" rating and set a $60.00 target price on shares of VEON in a research report on Monday, June 16th. Wall Street Zen raised shares of VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Finally, Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $60.00.

VEON Trading Down 3.5%

Shares of VEON stock traded down $1.82 during trading hours on Wednesday, hitting $49.75. 148,915 shares of the company were exchanged, compared to its average volume of 109,279. The firm has a market cap of $3.68 billion, a PE ratio of 3.65 and a beta of 1.58. VEON has a 1 year low of $29.29 and a 1 year high of $64.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The firm has a fifty day moving average of $54.91 and a 200 day moving average of $49.54.

VEON (NASDAQ:VEON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share for the quarter, topping the consensus estimate of $0.95 by $7.35. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.02 billion. VEON had a net margin of 23.75% and a return on equity of 72.76%. VEON has set its FY 2025 guidance at EPS.

Institutional Trading of VEON

A number of hedge funds have recently made changes to their positions in VEON. Osaic Holdings Inc. grew its position in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock worth $66,000 after buying an additional 388 shares in the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON during the second quarter worth approximately $138,000. GAMMA Investing LLC grew its position in shares of VEON by 21.3% during the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock worth $158,000 after buying an additional 635 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of VEON during the second quarter worth approximately $243,000. Finally, Handelsbanken Fonder AB bought a new position in VEON during the second quarter worth $267,000. Institutional investors and hedge funds own 21.30% of the company's stock.

VEON Company Profile

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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