VEON (NASDAQ:VEON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of VEON (NASDAQ:VEON) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other research firms have also recently weighed in on VEON. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Northland Securities began coverage on shares of VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Trading Up 1.3%

Shares of VEON stock opened at $56.61 on Friday. The company has a market capitalization of $4.19 billion, a PE ratio of 66.60 and a beta of 1.65. VEON has a 52-week low of $42.60 and a 52-week high of $64.00. The business’s fifty day moving average is $52.37 and its 200 day moving average is $52.46. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97.

VEON (NASDAQ:VEON) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company earned $8.30 EPS. On average, equities research analysts anticipate that VEON will post 7.28 EPS for the current fiscal year.

Insider Transactions at VEON

In other news, Director Augie K. Fabela II bought 5,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $56.02 per share, with a total value of $280,100.00. Following the completion of the purchase, the director directly owned 96,000 shares in the company, valued at $5,377,920. This represents a 5.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On VEON

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its holdings in shares of VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after purchasing an additional 388 shares during the last quarter. Royal Bank of Canada boosted its position in VEON by 184.3% during the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,576 shares during the period. Truist Financial Corp boosted its position in VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the period. Personal CFO Solutions LLC grew its stake in shares of VEON by 7.0% during the fourth quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after buying an additional 268 shares during the last quarter. Finally, CWM LLC bought a new position in shares of VEON during the fourth quarter valued at about $219,000. 21.30% of the stock is currently owned by institutional investors.

VEON News Summary

Here are the key news stories impacting VEON this week:

• Positive Sentiment: Director Augie Fabela II reported purchases totaling 20,000 VEON shares across August 6–7 at approximately $56 per share, worth about $1.12 million. The insider buying may signal confidence in the company’s outlook and provide a positive sentiment catalyst. VEON Director Acquires 5,000 Shares of Stock
• Positive Sentiment: Analysts’ average price target implies roughly 43.9% potential upside from recent levels. Zacks also cited improving earnings-estimate revisions, which could support further gains if expectations continue to rise. Wall Street Analysts Predict Upside in VEON
• Positive Sentiment: VEON passed Zacks’ “Fast-Paced Momentum at a Bargain” screen, suggesting its recent price momentum remains attractive relative to the valuation factors used in the screen. VEON Momentum and Valuation Analysis
• Neutral Sentiment: Reported short interest was zero shares, implying no measurable short-selling pressure; however, the reported percentage increase was unavailable, limiting the usefulness of the data.
• Neutral Sentiment: VEON’s latest quarterly results beat consensus on earnings and revenue, but its approximately 66 times price-to-earnings ratio and low 1.24% net margin leave the stock sensitive to any slowdown in growth or earnings revisions.

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.