BidaskClub upgraded shares of VEON (NASDAQ:VEON) from a hold rating to a buy rating in a report released on Friday, BidAskClub reports.

VEON has been the subject of several other research reports. Zacks Investment Research cut VEON from a buy rating to a hold rating in a research note on Thursday, May 30th. UBS Group raised VEON from a neutral rating to a buy rating and set a $3.00 target price for the company in a research note on Monday, June 17th. Finally, ValuEngine raised VEON from a hold rating to a buy rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $3.20.

Shares of VEON opened at $2.81 on Friday. VEON has a 1 year low of $2.07 and a 1 year high of $3.14. The company has a market capitalization of $5.01 billion, a P/E ratio of -12.22 and a beta of 1.69. The business’s 50-day moving average is $2.44.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. VEON had a negative return on equity of 17.37% and a net margin of 10.00%. The company had revenue of $2.12 billion during the quarter. Sell-side analysts anticipate that VEON will post 0.49 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of VEON by 8.6% in the 1st quarter. FMR LLC now owns 219,193 shares of the Wireless communications provider’s stock worth $458,000 after purchasing an additional 17,387 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of VEON by 20.6% in the 1st quarter. Nordea Investment Management AB now owns 962,000 shares of the Wireless communications provider’s stock worth $2,011,000 after purchasing an additional 164,000 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of VEON by 2,866.4% in the 1st quarter. Marshall Wace North America L.P. now owns 1,042,217 shares of the Wireless communications provider’s stock worth $2,178,000 after purchasing an additional 1,007,083 shares in the last quarter. Key Square Capital Management LLC purchased a new position in shares of VEON in the 1st quarter worth about $1,614,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of VEON in the 1st quarter worth about $62,000. 16.22% of the stock is owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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Analyst Recommendations for VEON (NASDAQ:VEON)

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