VEON (NASDAQ:VEON) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

VEON Ltd. (NASDAQ:VEON)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $50.04 and traded as high as $52.25. VEON shares last traded at $50.72, with a volume of 66,154 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on VEON. Weiss Ratings reissued a “hold (c+)” rating on shares of VEON in a research note on Wednesday, October 8th. Zacks Research upgraded shares of VEON from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Litchfield Hills Research raised VEON to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded VEON from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.00.

VEON Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.57. The stock’s fifty day moving average price is $54.45 and its two-hundred day moving average price is $50.04. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 3.72 and a beta of 1.58.

VEON (NASDAQ:VEON) last posted its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating the consensus estimate of $0.95 by $7.35. VEON had a return on equity of 72.76% and a net margin of 23.75%.The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On VEON

Several institutional investors have recently added to or reduced their stakes in VEON. Wellington Management Group LLP boosted its holdings in VEON by 22.3% in the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after purchasing an additional 117,945 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of VEON by 1.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock valued at $274,470,000 after buying an additional 70,659 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of VEON by 783.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 53,936 shares of the Wireless communications provider’s stock valued at $2,352,000 after buying an additional 47,832 shares during the last quarter. JPMorgan Chase & Co. raised its stake in VEON by 267.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after acquiring an additional 40,614 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in VEON by 2,404.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 35,983 shares of the Wireless communications provider’s stock worth $1,569,000 after acquiring an additional 34,546 shares in the last quarter. Hedge funds and other 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.