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

VEON (NASDAQ:VEON) had its price target boosted by research analysts at Benchmark from $56.00 to $60.00 in a research report issued to clients and investors on Tuesday,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 30.70% from the company’s previous close.

VEON Stock Performance

NASDAQ:VEON opened at $45.91 on Tuesday. VEON has a twelve month low of $22.35 and a twelve month 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 stock’s 50-day simple moving average is $44.40 and its 200 day simple moving average is $37.37. The firm has a market capitalization of $3.40 billion, a PE ratio of 8.01 and a beta of 1.47.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VEON. Rhumbline Advisers lifted its position in shares of VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. bought a new position in VEON during the fourth quarter worth $58,000. Mirae Asset Global Investments Co. Ltd. raised its stake in VEON by 100.0% during the fourth 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 during the last quarter. R Squared Ltd acquired a new position in VEON in the fourth quarter valued at $101,000. Finally, JPMorgan Chase & Co. boosted its position in VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after acquiring an additional 776 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.