VEON (NASDAQ:VEON) Downgraded by Wall Street Zen to Hold

VEON (NASDAQ:VEON) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on VEON. Zacks Research lowered shares of VEON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.00.

VEON Stock Performance

Shares of VEON stock opened at $52.53 on Friday. VEON has a 52 week low of $30.37 and a 52 week high of $64.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The business has a 50 day moving average price of $50.72 and a 200-day moving average price of $51.04. The company has a market cap of $3.89 billion, a PE ratio of 3.85 and a beta of 1.58.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. VEON had a return on equity of 72.76% and a net margin of 23.75%. VEON has set its FY 2025 guidance at EPS.

VEON declared that its board has authorized a stock buyback plan on Monday, November 17th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEON. Dorsey Wright & Associates bought a new position in shares of VEON during the 3rd quarter valued at approximately $1,273,000. Caxton Associates LLP grew its holdings in VEON by 174.0% during the third quarter. Caxton Associates LLP now owns 16,856 shares of the Wireless communications provider’s stock valued at $917,000 after purchasing an additional 10,704 shares during the period. Voleon Capital Management LP bought a new position in VEON during the third quarter valued at $1,282,000. VR Advisory Services Ltd increased its position in VEON by 11.1% in the third quarter. VR Advisory Services Ltd now owns 100,166 shares of the Wireless communications provider’s stock worth $5,452,000 after buying an additional 10,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of VEON in the third quarter valued at $325,000. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.