Brokerages Set VEON Ltd. (NASDAQ:VEON) Target Price at $67.00

VEON Ltd. (NASDAQ:VEON) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $68.00.

VEON has been the subject of several research reports. Northland Securities initiated coverage on VEON in a report on Tuesday. They set an “outperform” rating and a $70.00 price target for the company. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Friday, March 13th. Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen cut shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th.

VEON Stock Performance

NASDAQ:VEON opened at $50.49 on Friday. The stock has a market cap of $3.73 billion, a P/E ratio of 6.77 and a beta of 1.63. The stock has a 50 day simple moving average of $52.28 and a 200 day simple moving average of $52.37. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. VEON has a 1-year low of $34.55 and a 1-year high of $64.00.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. Research analysts anticipate that VEON will post 6.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Shah Capital Management increased its holdings in shares of VEON by 1.5% during the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock worth $257,343,000 after purchasing an additional 70,831 shares during the period. Diversify Wealth Management LLC acquired a new stake in VEON during the third quarter worth about $1,078,000. Panview Capital Ltd acquired a new stake in VEON during the third quarter worth about $22,481,000. Pictet Asset Management Holding SA grew its stake in VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after buying an additional 98,618 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in VEON during the third quarter worth about $1,645,000. 21.30% of the stock is owned by institutional investors.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.