VEON (NASDAQ:VEON) Price Target Raised to $56.00 at Benchmark

VEON (NASDAQ:VEON) had its target price increased by Benchmark from $48.00 to $56.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

VEON Stock Performance

Shares of NASDAQ:VEON opened at $44.96 on Monday. The business’s fifty day moving average price is $43.91 and its two-hundred day moving average price is $35.63. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. VEON has a fifty-two week low of $22.17 and a fifty-two week high of $48.39. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 6.01 and a beta of 1.52.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Trading of VEON

Several hedge funds have recently modified their holdings of the stock. VR Advisory Services Ltd bought a new stake in shares of VEON during the fourth quarter valued at approximately $1,712,000. Tidal Investments LLC acquired a new stake in VEON in the fourth quarter worth $484,000. J. Goldman & Co LP acquired a new stake in VEON in the fourth quarter worth $2,084,000. Diameter Capital Partners LP acquired a new stake in VEON in the fourth quarter worth $25,161,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in VEON in the fourth quarter worth $245,000. 21.30% of the stock is owned by 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.