VEON (NASDAQ:VEON) Price Target Raised to $56.00 at Benchmark

VEON (NASDAQ:VEON) had its target price raised by investment analysts at Benchmark from $48.00 to $56.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the Wireless communications provider’s stock. Benchmark’s price target suggests a potential upside of 23.96% from the company’s current price.

VEON Stock Performance

NASDAQ VEON traded up $0.42 on Monday, hitting $45.18. The stock had a trading volume of 17,865 shares, compared to its average volume of 128,532. The company’s 50-day moving average is $43.78 and its two-hundred day moving average is $35.51. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 6.04 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. VEON has a one year low of $22.17 and a one year high of $48.39.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Institutional Investors Weigh In On VEON

Several institutional investors have recently bought and sold shares of VEON. Rhumbline Advisers boosted its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VEON during the 4th quarter valued at $58,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 720 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after buying an additional 776 shares during the period. Finally, R Squared Ltd bought a new position in VEON during the fourth quarter valued at about $101,000. Institutional investors and hedge funds 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.