Wall Street Zen Upgrades VEON (NASDAQ:VEON) to “Strong-Buy”

VEON (NASDAQ:VEON) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Monday, Wall Street Zen reports.

Several other brokerages have also commented on VEON. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Northland Securities started coverage on VEON in a report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 target price on the stock. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, VEON has an average rating of “Moderate Buy” and an average price target of $79.50.

VEON Stock Up 6.6%

VEON stock opened at $73.97 on Monday. VEON has a 12 month low of $42.60 and a 12 month high of $75.00. The firm has a 50 day simple moving average of $61.17 and a 200 day simple moving average of $54.99. The firm has a market cap of $5.47 billion, a PE ratio of 87.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm earned $8.30 earnings per share. Equities research analysts forecast that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Transactions at VEON

In other news, Director K II bought 15,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average price 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 approximately $5,096,000. The trade was a 19.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of VEON

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP raised its position in shares of VEON by 0.3% during the 4th quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock valued at $318,619,000 after acquiring an additional 16,758 shares during the last quarter. Bank of America Corp DE boosted its position in shares of VEON by 2.8% in the 1st quarter. Bank of America Corp DE now owns 69,754 shares of the Wireless communications provider’s stock worth $3,230,000 after purchasing an additional 1,923 shares during the last quarter. Cygnus Capital Advisors LLC boosted its position in shares of VEON by 36.8% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider’s stock worth $2,777,000 after purchasing an additional 14,300 shares during the last quarter. RWC Asset Management LLP grew its stake in shares of VEON by 1.1% during the fourth quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider’s stock worth $2,000,000 after purchasing an additional 422 shares during the period. Finally, Dorsey Wright & Associates grew its stake in shares of VEON by 45.7% during the first quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider’s stock worth $1,642,000 after purchasing an additional 11,129 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

Key Headlines Impacting VEON

Here are the key news stories impacting VEON this week:

• Positive Sentiment: Starlink expands Beeline Kazakhstan’s coverage: VEON’s Beeline became the first Kazakh operator to launch Starlink’s satellite-to-mobile service. Customers can use messaging and apps in areas without terrestrial cellular coverage, potentially improving customer retention, network reach and the appeal of VEON’s digital-operator strategy. VEON’s Beeline Kazakhstan Becomes First Operator in Country to Launch Starlink’s Satellite to Mobile Service
• Positive Sentiment: Bangladesh digital-bank license secured: VEON and Square Group obtained a license for a digital bank in Bangladesh. The initiative could create new fintech revenue streams and deepen VEON’s ecosystem around its Banglalink telecommunications business, although financial benefits will depend on launch timing and adoption. Veon, Square Group secure Bangladesh digital bank licence
• Positive Sentiment: Planned Bangladesh investment reinforces growth strategy: VEON reiterated a commitment of $250 million as part of a broader effort to attract $1 billion in foreign investment to Bangladesh’s digital economy. The investment is intended to support Banglalink and related digital services, strengthening the company’s long-term position in a high-growth market. VEON and Banglalink Convene Global Investors in New York
• Positive Sentiment: Analyst sentiment remains favorable: WallStreetZen upgraded VEON to “Strong Buy,” adding to the positive market narrative. However, investors should weigh the recommendation against VEON’s elevated valuation, with the stock trading at a high earnings multiple and near its 52-week peak. VEON Stock Lifted to Strong-Buy by Wall Street Zen
• Neutral Sentiment: Execution and investment risks remain: The Bangladesh digital-bank launch and $250 million commitment require significant capital and execution. Investors will be watching whether these initiatives generate enough incremental revenue to offset development costs and VEON’s relatively high leverage.

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.