Benchmark Issues Positive Forecast for VEON (NASDAQ:VEON) Stock Price

VEON (NASDAQ:VEON) had its price target hoisted by equities researchers at Benchmark from $56.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the Wireless communications provider’s stock. Benchmark’s price target would indicate a potential upside of 30.70% from the company’s previous close.

VEON Stock Performance

Shares of NASDAQ VEON opened at $45.91 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 8.01 and a beta of 1.47. The stock’s fifty day moving average price is $44.40 and its two-hundred day moving average price is $37.37. VEON has a one year low of $22.35 and a one year high of $48.39.

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

Institutional Investors Weigh In On VEON

A number of hedge funds and other institutional investors have recently made changes to their positions in VEON. Diameter Capital Partners LP acquired a new position in VEON in the fourth quarter valued at about $25,161,000. Lingotto Investment Management LLP increased its holdings in VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after buying an additional 159,714 shares during the period. Helikon Investments Ltd increased its holdings in VEON by 5.0% in 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 buying an additional 138,149 shares during the period. Cyrus Capital Partners L.P. acquired a new position in shares of VEON in the 4th quarter valued at approximately $2,994,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON during the 3rd quarter worth approximately $2,069,000. 21.30% of the stock is currently 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.