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

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

VEON Price Performance

Shares of NASDAQ:VEON traded up $0.42 on Monday, reaching $45.18. 17,865 shares of the company traded hands, compared to its average volume of 128,532. The stock has a market capitalization of $3.34 billion, a PE ratio of 6.04 and a beta of 1.52. 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 company’s 50 day moving average is $43.78 and its 200-day moving average is $35.51. VEON has a fifty-two week low of $22.17 and a fifty-two week high of $48.39.

VEON (NASDAQ:VEON) last announced 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 Inflows and Outflows

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

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.