Zegona Communications’ (ZEG) “Buy” Rating Reiterated at Canaccord Genuity Group

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a report released on Wednesday,Digital Look reports. They presently have a GBX 2,500 price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 75.32% from the stock’s previous close.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,300 price target on shares of Zegona Communications in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 2,116.67.

Zegona Communications Stock Performance

Shares of Zegona Communications stock opened at GBX 1,426 on Wednesday. The company has a debt-to-equity ratio of 592.64, a current ratio of 0.70 and a quick ratio of 6.23. The firm has a market cap of £3.22 billion, a price-to-earnings ratio of -47.53 and a beta of 3.43. The stock’s 50-day moving average is GBX 1,711.93 and its 200-day moving average is GBX 1,672.23. Zegona Communications has a one year low of GBX 722 and a one year high of GBX 1,962.

Insider Activity

In related news, insider Suzi Williams acquired 1,632 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were bought at an average price of GBX 1,716 per share, for a total transaction of £28,005.12. 41.79% of the stock is currently owned by corporate insiders.

Zegona Communications Company Profile

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.