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 report report published on Tuesday,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

VEON Price Performance

VEON stock opened at $46.00 on Tuesday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 8.03 and a beta of 1.47. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. VEON has a 52-week low of $22.35 and a 52-week high of $48.39. The stock’s fifty day simple moving average is $44.39 and its 200-day simple moving average is $37.62.

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

Hedge Funds Weigh In On VEON

A number of hedge funds have recently made changes to their positions in VEON. Diameter Capital Partners LP purchased a new position in shares of VEON in the 4th quarter worth $25,161,000. Lingotto Investment Management LLP increased its stake in 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 worth $230,192,000 after acquiring an additional 159,714 shares during the last quarter. Helikon Investments Ltd raised its holdings in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares during the period. Cyrus Capital Partners L.P. purchased a new position in shares of VEON in the 4th quarter worth about $2,994,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON in the 3rd quarter valued at about $2,069,000. 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.