VEON (NASDAQ:VEON) Reaches New 1-Year High – Still a Buy?

VEON Ltd. (NASDAQ:VEON)’s share price reached a new 52-week high on Thursday . The stock traded as high as $69.89 and last traded at $70.1050, with a volume of 29464 shares. The stock had previously closed at $68.51.

Analysts Set New Price Targets

Several research firms have recently weighed in on VEON. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. Wall Street Zen upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. Northland Securities assumed coverage on shares of VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target on the stock. Benchmark reiterated a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, VEON currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

VEON Trading Up 3.4%

The company has a market cap of $5.24 billion, a price-to-earnings ratio of 83.31 and a beta of 1.63. The business’s 50 day moving average price is $57.88 and its 200-day moving average price is $53.94. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. The firm had revenue of $1.27 billion for 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 last year, the business earned $8.30 EPS. On average, equities analysts anticipate that VEON Ltd. will post 7.39 EPS for the current fiscal year.

Insider Buying and Selling

In other VEON news, Director K II purchased 15,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $56.00 per share, with a total value of $840,000.00. Following the acquisition, the director owned 91,000 shares of the company’s stock, valued at approximately $5,096,000. This represents a 19.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On VEON

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in VEON during the fourth quarter worth $1,293,000. K2 Principal Fund L.P. acquired a new position in shares of VEON during the fourth quarter valued at about $1,015,000. Lingotto Investment Management LLP raised its holdings in shares of VEON by 0.3% during the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock valued at $318,619,000 after purchasing an additional 16,758 shares during the period. Cygnus Capital Advisors LLC boosted its position in shares of VEON by 36.8% during the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider’s stock worth $2,777,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of VEON by 82.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock valued at $1,541,000 after buying an additional 13,315 shares during the period. Institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.