VEON (NASDAQ:VEON) Price Target Raised to $60.00

VEON (NASDAQ:VEON) had its target price upped by Benchmark from $56.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the Wireless communications provider’s stock. Benchmark’s price objective would indicate a potential upside of 31.20% from the stock’s previous close.

VEON Stock Down 0.0 %

VEON stock opened at $45.73 on Tuesday. The company’s 50 day moving average is $44.39 and its 200 day moving average is $37.56. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 7.98 and a beta of 1.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. VEON has a 1-year low of $22.35 and a 1-year high of $48.39.

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

Hedge Funds Weigh In On VEON

A number of large investors have recently modified their holdings of VEON. Diameter Capital Partners LP purchased a new position in VEON in the 4th quarter worth $25,161,000. Lingotto Investment Management LLP grew its stake in shares of VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after buying an additional 159,714 shares during the last quarter. Helikon Investments Ltd increased its holdings in shares of VEON by 5.0% in the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after buying an additional 138,149 shares during the period. Cyrus Capital Partners L.P. bought a new stake in shares of VEON in the 4th quarter valued at about $2,994,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON during the 3rd quarter valued at about $2,069,000. 21.30% of the stock is 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.