Benchmark Forecasts Strong Price Appreciation for VEON (NASDAQ:VEON) Stock

VEON (NASDAQ:VEON) had its price objective increased by Benchmark from $56.00 to $60.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the Wireless communications provider’s stock.

VEON Stock Up 0.6 %

Shares of VEON stock opened at $46.00 on Tuesday. The company has a fifty day moving average price of $44.39 and a 200 day moving average price of $37.62. 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 twelve month low of $22.35 and a twelve month high of $48.39. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 8.03 and a beta of 1.47.

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

Institutional Investors Weigh In On VEON

A number of large investors have recently added to or reduced their stakes in the company. Diameter Capital Partners LP purchased a new position in VEON in the 4th quarter valued at about $25,161,000. Lingotto Investment Management LLP boosted its holdings in VEON by 2.9% in the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after purchasing an additional 159,714 shares during the last quarter. Helikon Investments Ltd grew its stake in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Cyrus Capital Partners L.P. purchased a new stake in VEON during the 4th quarter worth approximately $2,994,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON in the 3rd quarter valued at approximately $2,069,000. 21.30% of the stock is owned by institutional investors and hedge funds.

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.