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

VEON (NASDAQ:VEON) had its price objective increased by Benchmark from $56.00 to $60.00 in a research note published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the Wireless communications provider’s stock.

VEON Price Performance

Shares of VEON stock opened at $45.75 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market cap of $3.38 billion, a PE ratio of 7.98 and a beta of 1.47. The firm has a fifty day moving average price of $44.39 and a two-hundred day moving average price of $37.50. VEON has a fifty-two week low of $22.35 and a fifty-two week high of $48.39.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $998.00 million during the quarter, compared to analysts’ expectations of $1.01 billion.

Institutional Trading of VEON

A number of institutional investors and hedge funds have recently modified their holdings of VEON. 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 $2,069,000. SBI Securities Co. Ltd. acquired a new position in VEON in the fourth quarter worth about $58,000. Citigroup Inc. lifted its stake in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the period. Helikon Investments Ltd boosted its holdings in VEON by 5.0% during the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Finally, Samson Rock Capital LLP boosted its holdings in VEON by 20.0% during the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock valued at $1,444,000 after purchasing an additional 6,000 shares in the last quarter. 21.30% of the stock is currently 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.