Cantor Fitzgerald upgraded shares of VEON (NASDAQ:VEON – Free Report) to a strong-buy rating in a research note issued to investors on Friday,Zacks reports.
A number of other analysts have also recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Monday, June 15th. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 28th. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Finally, Northland Securities set a $85.00 target price on VEON and gave the company an “outperform” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.33.
Check Out Our Latest Stock Analysis on VEON
VEON Price Performance
VEON (NASDAQ:VEON – Get Free Report) last released its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $8.30 earnings per share. Analysts expect that VEON will post 7.39 EPS for the current fiscal year.
Insider Activity at VEON
In related news, Director K II purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $56.00 per share, for a total transaction of $840,000.00. Following the purchase, the director directly owned 91,000 shares in the company, valued at $5,096,000. This trade represents a 19.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in VEON. RWC Asset Management LLP increased its stake in VEON by 1.1% in 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. Handelsbanken Fonder AB boosted its stake in shares of VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock valued at $386,000 after purchasing an additional 500 shares during the period. Personal CFO Solutions LLC boosted its stake in shares of VEON by 14.4% during the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock valued at $217,000 after purchasing an additional 592 shares during the period. Dorsey Wright & Associates grew its holdings in shares of VEON by 4.0% in the fourth quarter. Dorsey Wright & Associates now owns 24,328 shares of the Wireless communications provider’s stock worth $1,279,000 after purchasing an additional 934 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of VEON by 10.7% in the second quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider’s stock worth $1,015,000 after purchasing an additional 1,879 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.
VEON Company Profile
VEON Ltd. is a global telecommunications and digital services company that provides mobile and fixed connectivity, communications services, and digital products through operating companies in emerging markets. Its services include voice and data plans, broadband access, mobile financial services, digital entertainment, and business solutions for consumers and enterprises.
VEON operates through well-known regional brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan and Uzbekistan.
See Also
- Five stocks we like better than VEON
- Could Nike’s Brutal Sell-Off Finally Be Running Out of Steam?
- The AI Buildout Needs Power It Cannot Get: 4 Energy Stocks Already Have It
- McDonald’s Is Undergoing a Massive New Growth Strategy. Can It Win Back Consumers?
- MGM Resorts Stock Sinks After Diller Deal Collapse: Overreaction or Warning?
Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.
