VEON (NASDAQ:VEON) Hits New 12-Month High – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s share price reached a new 52-week high during trading on Tuesday. The company traded as high as $85.87 and last traded at $85.1040, with a volume of 10,316 shares traded. The stock had previously closed at $84.50.

Wall Street Analysts Forecast Growth

VEON has been the subject of several recent research reports. Weiss Ratings upgraded VEON from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Northland Securities set a $85.00 price objective on VEON and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Wall Street Zen cut VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 6th. Cantor Fitzgerald started coverage on VEON in a research note on Friday, October 2nd. They issued an “overweight” rating and a $112.00 target price for the company. Finally, Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

VEON Stock Down 0.1%

The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30. The firm has a market cap of $6.49 billion, a P/E ratio of 103.26 and a beta of 1.62. The stock’s fifty day moving average is $71.80 and its two-hundred day moving average is $57.46.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same period last year, the firm earned $8.30 EPS. As a group, research analysts anticipate that VEON Ltd. will post 7.39 earnings per share for the current year.

Insider Buying and Selling at VEON

In other VEON news, Director K II acquired 15,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $56.00 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the director owned 91,000 shares of the company’s stock, valued at approximately $5,096,000. This represents a 19.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On VEON

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in 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 acquiring an additional 1,923 shares during the last quarter. Cygnus Capital Advisors LLC raised its holdings 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 valued at $2,777,000 after acquiring an additional 14,300 shares in the last quarter. Dorsey Wright & Associates boosted its position in shares of VEON by 45.7% during the 1st quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider’s stock valued at $1,642,000 after acquiring an additional 11,129 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of VEON by 43.0% during the 1st quarter. Diversify Wealth Management LLC now owns 30,497 shares of the Wireless communications provider’s stock valued at $1,497,000 after acquiring an additional 9,168 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of VEON by 82.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock valued at $1,541,000 after acquiring an additional 13,315 shares during the last quarter. Institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd. is a global digital communications and services company that provides mobile connectivity, fixed broadband, and digital products to consumers and businesses. The company operates through a portfolio of local telecommunications brands, offering voice and messaging services, mobile data, broadband access, and related enterprise solutions.

VEON’s principal operating brands include Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline-branded businesses in Kazakhstan, Uzbekistan, and Kyrgyzstan.