VEON (NASDAQ:VEON) Stock Jumps 5.3% – Should You Buy?

VEON Ltd. (NASDAQ:VEON) traded up 5.3% on Friday. The stock traded as high as $79.23 and last traded at $79.17. 99,318 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 115,796 shares. The stock had previously closed at $75.15.

Wall Street Analysts Forecast Growth

VEON has been the subject of a number of analyst reports. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings raised shares of VEON from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Northland Securities set a $85.00 target price on VEON and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Finally, Cantor Fitzgerald initiated coverage on VEON in a research note on Friday, October 2nd. They issued an “overweight” rating and a $112.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.33.

VEON Stock Performance

The company has a fifty day moving average price of $75.74 and a two-hundred day moving average price of $58.82. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.95 and a quick ratio of 0.96. The company has a market capitalization of $5.86 billion, a P/E ratio of 14.77 and a beta of 1.65.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, November 6th. The Wireless communications provider reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.94. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. VEON had a net margin of 7.62% and a return on equity of 20.20%. Equities analysts forecast that VEON Ltd. will post 7.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd raised its position in shares of VEON by 2.6% in the 3rd quarter. R Squared Ltd now owns 6,110 shares of the Wireless communications provider’s stock worth $452,000 after acquiring an additional 153 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in VEON in the third quarter valued at approximately $53,000. Crossmark Global Holdings Inc. bought a new position in shares of VEON during the 3rd quarter worth approximately $243,000. QRG Capital Management Inc. grew its position in shares of VEON by 10.7% during the 2nd quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider’s stock worth $1,015,000 after buying an additional 1,879 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of VEON during the 2nd quarter worth approximately $170,000. Institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd. is an international telecommunications and digital services company that provides mobile and fixed connectivity, along with consumer and business services. Its offerings include voice and data plans, broadband, digital payments, entertainment, and other services delivered through its networks and digital platforms. The company serves customers in Bangladesh, Kazakhstan, Kyrgyzstan, Pakistan, Ukraine, and Uzbekistan through local operating companies and brands, including Banglalink, Jazz, Kyivstar, and Beeline.