VEON (NASDAQ:VEON) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of VEON Ltd. (NASDAQ:VEON) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $52.38 and traded as high as $52.50. VEON shares last traded at $51.47, with a volume of 85,970 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VEON shares. Zacks Research downgraded VEON from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Rothschild & Co Redburn set a $74.00 target price on VEON and gave the stock a “buy” rating in a research report on Thursday, April 16th. Benchmark reissued a “buy” rating on shares of VEON in a research note on Monday, June 15th. Northland Securities assumed coverage on VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target on the stock. Finally, Weiss Ratings downgraded VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.00.

VEON Stock Performance

The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $3.81 billion, a P/E ratio of 6.90 and a beta of 1.63. The business’s fifty day simple moving average is $52.74 and its 200-day simple moving average is $52.38.

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

Institutional Investors Weigh In On VEON

A number of hedge funds have recently made changes to their positions in the company. Truist Financial Corp boosted its stake in VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the last quarter. Personal CFO Solutions LLC increased its stake in VEON by 7.0% in the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock worth $215,000 after acquiring an additional 268 shares during the last quarter. Tidal Investments LLC increased its stake in VEON by 4.8% in the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock worth $336,000 after acquiring an additional 336 shares during the last quarter. Severin Investments LLC increased its stake in VEON by 4.2% in the 4th quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock worth $466,000 after acquiring an additional 353 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 388 shares in the last quarter. 21.30% of the stock is currently owned by hedge funds and other 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.