Benchmark Forecasts Strong Price Appreciation for VEON (NASDAQ:VEON) Stock

VEON (NASDAQ:VEON) had its target price raised by Benchmark from $48.00 to $56.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the Wireless communications provider’s stock.

VEON Price Performance

VEON stock opened at $44.05 on Monday. The firm has a market cap of $3.26 billion, a PE ratio of 5.89 and a beta of 1.52. VEON has a 52-week low of $22.17 and a 52-week high of $48.39. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. The company’s 50 day moving average is $44.18 and its two-hundred day moving average is $35.81.

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 negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Investors Weigh In On VEON

A number of hedge funds and other institutional investors have recently modified their holdings of VEON. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON during the third quarter worth $2,069,000. Citigroup Inc. increased its stake in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares during the period. Helikon Investments Ltd grew its stake in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares during the last quarter. Samson Rock Capital LLP boosted its holdings in shares of VEON by 20.0% in the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock worth $1,444,000 after buying an additional 6,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares during the period. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.