Rothschild & Co Redburn Begins Coverage on VEON (NASDAQ:VEON)

Stock analysts at Rothschild & Co Redburn began coverage on shares of VEON (NASDAQ:VEON) in a report released on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $74.00 price target on the Wireless communications provider’s stock. Rothschild & Co Redburn’s price objective indicates a potential upside of 35.43% from the company’s current price.

Several other research firms also recently weighed in on VEON. Benchmark reissued a “buy” rating on shares of VEON in a research note on Friday, March 13th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Finally, Zacks Research raised shares of VEON from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $67.00.

VEON Stock Up 0.4%

Shares of NASDAQ VEON opened at $54.64 on Thursday. The company’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $51.58. VEON has a 52-week low of $34.55 and a 52-week high of $64.00. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 7.35 and a beta of 1.67. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

VEON (NASDAQ:VEON) last announced its earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share (EPS) for the quarter. The company had revenue of $1.17 billion during the quarter. VEON had a net margin of 12.12% and a return on equity of 47.86%.

Hedge Funds Weigh In On VEON

A number of institutional investors have recently bought and sold shares of VEON. NewEdge Advisors LLC purchased a new position in VEON during the first quarter worth about $400,000. Jones Financial Companies Lllp raised its stake in VEON by 84,690.0% during the first quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after purchasing an additional 16,938 shares during the period. Jane Street Group LLC raised its stake in VEON by 177.9% during the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after purchasing an additional 10,483 shares during the period. JPMorgan Chase & Co. raised its stake in VEON by 267.0% during the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after purchasing an additional 40,614 shares during the period. Finally, Bank of America Corp DE raised its stake in VEON by 1.0% during the second quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after purchasing an additional 538 shares during the period. 21.30% of the stock is 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.