VEON (NASDAQ:VEON) Stock Moved Up to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of VEON (NASDAQ:VEON) from a buy rating to a strong-buy rating in a research note published on Monday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on VEON. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Benchmark restated a “buy” rating on shares of VEON in a report on Monday, June 15th. Northland Securities assumed coverage on VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, VEON presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

VEON Price Performance

NASDAQ VEON opened at $69.41 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $5.13 billion, a PE ratio of 81.66 and a beta of 1.63. VEON has a 12-month low of $42.60 and a 12-month high of $75.00. The company has a 50 day moving average price of $60.75 and a two-hundred day moving average price of $54.85.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same quarter in the prior year, the business posted $8.30 EPS. As a group, equities analysts predict that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Activity at VEON

In other news, Director K II acquired 15,000 shares of VEON stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the completion of the purchase, the director owned 91,000 shares of the company’s stock, valued at $5,096,000. This represents a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in VEON during the 2nd quarter worth $170,000. Personal CFO Solutions LLC increased its position in VEON by 14.4% in the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after buying an additional 592 shares during the period. Lazard Asset Management LLC increased its position in VEON by 64.1% in the 1st quarter. Lazard Asset Management LLC now owns 7,597 shares of the Wireless communications provider’s stock worth $352,000 after buying an additional 2,967 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock worth $386,000 after buying an additional 500 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of VEON by 30.2% during the first quarter. QRG Capital Management Inc. now owns 17,557 shares of the Wireless communications provider’s stock worth $813,000 after buying an additional 4,073 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

About VEON

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.