Benchmark Initiates Coverage on VEON (NASDAQ:VEON)

Research analysts at Benchmark started coverage on shares of VEON (NASDAQ:VEON) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $48.00 price target on the Wireless communications provider’s stock. Benchmark’s price target indicates a potential upside of 42.73% from the stock’s current price.

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th.

VEON Stock Performance

Shares of NASDAQ VEON opened at $33.63 on Tuesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The company has a 50 day simple moving average of $30.32 and a 200-day simple moving average of $27.74. VEON has a 1 year low of $17.72 and a 1 year high of $34.00.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 EPS for the quarter. The company had revenue of $1.03 billion for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Investors Weigh In On VEON

Institutional investors and hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL acquired a new stake in shares of VEON during the first quarter worth about $376,000. Monaco Asset Management SAM grew its stake in shares of VEON by 8.5% in the first quarter. Monaco Asset Management SAM now owns 25,830 shares of the Wireless communications provider’s stock worth $620,000 after acquiring an additional 2,030 shares in the last quarter. Samson Rock Capital LLP purchased a new stake in shares of VEON during the third quarter worth $913,000. Gabelli Funds LLC raised its stake in shares of VEON by 18.8% in the first quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock valued at $3,109,000 after acquiring an additional 20,456 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after purchasing an additional 29,350 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.