VEON (NASDAQ:VEON) Coverage Initiated at Northland Securities

Investment analysts at Northland Securities began coverage on shares of VEON (NASDAQ:VEON) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $70.00 price target on the Wireless communications provider’s stock. Northland Securities’ target price would indicate a potential upside of 42.83% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th. Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Weiss Ratings downgraded VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of VEON in a report on Friday, March 13th. Finally, Zacks Research downgraded VEON from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.00.

VEON Price Performance

Shares of NASDAQ:VEON opened at $49.01 on Tuesday. VEON has a 1-year low of $34.55 and a 1-year high of $64.00. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average price of $52.05 and a 200-day moving average price of $52.42. The company has a market capitalization of $3.63 billion, a PE ratio of 6.57 and a beta of 1.63.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. As a group, equities analysts expect that VEON will post 8.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VEON. Panview Capital Ltd purchased a new position in VEON in the third quarter worth about $22,481,000. Wellington Management Group LLP lifted its position in shares of VEON by 66.5% during the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after buying an additional 390,294 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of VEON during the 3rd quarter valued at about $15,005,000. Pictet Asset Management Holding SA lifted its position in shares of VEON by 77.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after buying an additional 98,618 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of VEON by 275.3% during the 3rd quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock valued at $7,265,000 after buying an additional 97,913 shares in the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.