Zegona Communications (LON:ZEG – Free Report) had its price objective trimmed by Canaccord Genuity Group from GBX 2,500 to GBX 2,450 in a research note released on Thursday morning,Digital Look reports. The firm currently has a buy rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,200 price target on shares of Zegona Communications in a research note on Thursday, August 13th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,300 target price on shares of Zegona Communications in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Zegona Communications presently has a consensus rating of “Buy” and a consensus target price of GBX 2,316.67.
Get Our Latest Stock Analysis on ZEG
Zegona Communications Stock Down 5.9%
Insiders Place Their Bets
In other Zegona Communications news, insider Timothy Pennington bought 6,588 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was acquired at an average price of GBX 15 per share, with a total value of £988.20. Also, insider Suzi Williams bought 1,632 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was acquired at an average cost of GBX 1,716 per share, with a total value of £28,005.12. Corporate insiders own 41.82% of the company’s stock.
About Zegona Communications
Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.
In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.
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