VEON (NASDAQ:VEON) Stock Price Expected to Rise, Benchmark Analyst Says

VEON (NASDAQ:VEON) had its price target raised by research analysts at Benchmark from $56.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the Wireless communications provider’s stock. Benchmark’s price objective would suggest a potential upside of 31.20% from the company’s current price.

VEON Stock Performance

Shares of VEON stock opened at $45.73 on Tuesday. The business’s fifty day simple moving average is $44.39 and its 200 day simple moving average is $37.56. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. VEON has a 12 month low of $22.35 and a 12 month high of $48.39. The firm has a market capitalization of $3.38 billion, a P/E ratio of 7.98 and a beta of 1.47.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $998.00 million for the quarter, compared to the consensus estimate of $1.01 billion.

Institutional Investors Weigh In On VEON

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its position in VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 540 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in VEON in the 4th quarter worth about $58,000. Mirae Asset Global Investments Co. Ltd. raised its stake in VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after acquiring an additional 720 shares during the period. R Squared Ltd purchased a new stake in VEON during the fourth quarter valued at about $101,000. Finally, JPMorgan Chase & Co. boosted its position in VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares during the period. Institutional investors own 21.30% of the company’s stock.

About VEON

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.