VEON (NASDAQ:VEON) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $4.00 price target on the Wireless communications provider’s stock, up from their previous price target of $3.40. Goldman Sachs Group’s price target would indicate a potential upside of 26.18% from the company’s previous close.

VEON has been the topic of several other reports. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Bank of America reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of The Medicines in a research note on Tuesday. UBS Group lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating and increased their target price for the stock from $22.00 to $25.00 in a research note on Monday, June 17th. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, July 5th. Finally, BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. VEON currently has a consensus rating of “Buy” and an average price target of $3.19.

Shares of VEON opened at $3.17 on Thursday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of -13.78 and a beta of 1.81. VEON has a 1-year low of $2.07 and a 1-year high of $3.28. The firm’s fifty day moving average is $2.61.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. VEON had a net margin of 10.00% and a negative return on equity of 17.37%. The firm had revenue of $2.12 billion for the quarter. As a group, equities research analysts anticipate that VEON will post 0.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Segantii Capital Management Ltd acquired a new position in shares of VEON during the 1st quarter worth about $10,450,000. Hsbc Holdings PLC raised its position in shares of VEON by 15.1% during the 4th quarter. Hsbc Holdings PLC now owns 1,481,318 shares of the Wireless communications provider’s stock worth $3,466,000 after purchasing an additional 194,554 shares during the last quarter. Marshall Wace North America L.P. raised its position in shares of VEON by 2,866.4% during 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 during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of VEON during the 4th quarter worth about $47,000. Finally, Geode Capital Management LLC raised its position in shares of VEON by 70.1% during the 4th quarter. Geode Capital Management LLC now owns 1,762,145 shares of the Wireless communications provider’s stock worth $4,123,000 after purchasing an additional 726,359 shares during the last quarter. Hedge funds and other institutional investors own 16.22% of the company’s stock.

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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