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

VEON (NASDAQ:VEON) had its price target boosted by Benchmark from $56.00 to $60.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

VEON Stock Down 0.5 %

VEON stock opened at $45.75 on Tuesday. 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. The firm’s fifty day simple moving average is $44.39 and its 200-day simple moving average is $37.50. The company has a market capitalization of $3.38 billion, a P/E ratio of 7.98 and a beta of 1.47.

VEON (NASDAQ:VEON) last posted 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. The company had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Hedge Funds Weigh In On VEON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VR Advisory Services Ltd bought a new stake in shares of VEON during the 4th quarter worth $1,712,000. Tidal Investments LLC acquired a new position in VEON during the 4th quarter worth $484,000. J. Goldman & Co LP bought a new stake in VEON during the fourth quarter valued at about $2,084,000. Diameter Capital Partners LP acquired a new stake in shares of VEON in the fourth quarter valued at about $25,161,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of VEON in the fourth quarter worth about $245,000. 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.