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

VEON Ltd. (NASDAQ:VEON)’s share price hit a new 52-week high during trading on Monday. The company traded as high as $78.88 and last traded at $78.6760, with a volume of 27,904 shares traded. The stock had previously closed at $76.81.

Wall Street Analyst Weigh In

Several analysts have recently commented on VEON shares. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Northland Securities set a $85.00 price target on shares of VEON and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded shares of VEON from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Cantor Fitzgerald assumed coverage on VEON in a report on Friday, October 2nd. They issued an “overweight” rating and a $112.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.33.

VEON Price Performance

The stock has a fifty day moving average of $66.11 and a two-hundred day moving average of $56.96. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 21.10 and a beta of 1.62. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.23. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%. During the same quarter in the prior year, the business posted $8.30 earnings per share. On average, equities research analysts anticipate that VEON Ltd. will post 7.39 earnings per share for the current year.

Insider Buying and Selling at VEON

In related news, Director K II purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was acquired at an average price of $56.00 per share, for a total transaction of $840,000.00. Following the acquisition, the director directly owned 91,000 shares of the company’s stock, valued at $5,096,000. This trade represents a 19.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of VEON during the 2nd quarter valued at approximately $170,000. Personal CFO Solutions LLC boosted its stake in shares of VEON by 14.4% during the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after acquiring an additional 592 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of VEON by 7.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock worth $386,000 after acquiring an additional 500 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of VEON by 64.1% in the 1st quarter. Lazard Asset Management LLC now owns 7,597 shares of the Wireless communications provider’s stock worth $352,000 after acquiring an additional 2,967 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of VEON by 30.2% in the 1st quarter. QRG Capital Management Inc. now owns 17,557 shares of the Wireless communications provider’s stock worth $813,000 after acquiring an additional 4,073 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.