VEON (NASDAQ:VEON) Stock Rated “Overweight” in New Coverage at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald began coverage on shares of VEON (NASDAQ:VEON) in a report issued on Friday, Marketbeat reports. The firm set an “overweight” rating and a $112.00 price target on the Wireless communications provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 45.42% from the stock’s previous close.

Several other research firms have also recently weighed in on VEON. Northland Securities set a $85.00 price target on VEON and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Benchmark reissued a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 28th. One equities research 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.33.

VEON Stock Performance

VEON traded up $1.38 on Friday, reaching $77.02. The company had a trading volume of 189,689 shares, compared to its average volume of 105,902. The stock has a market cap of $5.70 billion, a P/E ratio of 90.69 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 has a fifty-two week low of $42.60 and a fifty-two week high of $78.83. The company’s fifty day moving average is $62.51 and its 200 day moving average is $55.54.

VEON (NASDAQ:VEON) last issued 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. VEON had a net margin of 1.24% and a return on equity of 14.93%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $8.30 earnings per share. As a group, analysts predict that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Activity at VEON

In other VEON news, Director K II acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the transaction, the director directly owned 91,000 shares in the company, valued at $5,096,000. This represents a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. RWC Asset Management LLP grew its holdings in shares of VEON by 1.1% during the 4th quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider’s stock valued at $2,000,000 after purchasing an additional 422 shares during the last quarter. Handelsbanken Fonder AB boosted its position in VEON by 7.2% in the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock valued at $386,000 after buying an additional 500 shares in the last quarter. Personal CFO Solutions LLC boosted its position in VEON by 14.4% in the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock valued at $217,000 after buying an additional 592 shares in the last quarter. Dorsey Wright & Associates grew its stake in shares of VEON by 4.0% during the fourth quarter. Dorsey Wright & Associates now owns 24,328 shares of the Wireless communications provider’s stock worth $1,279,000 after buying an additional 934 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of VEON by 10.7% during the second quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider’s stock worth $1,015,000 after buying an additional 1,879 shares during the last quarter. 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.