VEON (NASDAQ:VEON) Stock Lifted to “Strong-Buy” by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of VEON (NASDAQ:VEON) to a strong-buy rating in a report published on Friday,Zacks reports.

A number of other research analysts also recently weighed in on VEON. Northland Securities set a $85.00 price target on shares of VEON and gave the company an “outperform” rating in a report on Tuesday. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday, September 28th. Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.33.

VEON Trading Up 2.3%

NASDAQ:VEON opened at $75.64 on Friday. The stock’s 50 day moving average price is $62.51 and its 200 day moving average price is $55.51. VEON has a 52 week low of $42.60 and a 52 week high of $78.83. The company has a market capitalization of $5.60 billion, a P/E ratio of 88.99 and a beta of 1.62. 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 issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same quarter last year, the firm earned $8.30 earnings per share. On average, research analysts forecast that VEON will post 7.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director K II bought 15,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $56.00 per share, with a total value of $840,000.00. Following the transaction, the director directly owned 91,000 shares in the company, valued at approximately $5,096,000. The trade was a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On VEON

Several hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. lifted its position in shares of VEON by 10.7% during the 2nd 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. Integrated Wealth Concepts LLC acquired a new stake in VEON in the 2nd quarter valued at approximately $170,000. Cygnus Capital Advisors LLC grew its holdings in VEON by 36.8% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider’s stock valued at $2,777,000 after buying an additional 14,300 shares during the last quarter. Handelsbanken Fonder AB increased its position in VEON by 7.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock worth $386,000 after buying an additional 500 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in VEON by 82.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock worth $1,541,000 after buying an additional 13,315 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

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.