VEON (NASDAQ:VEON) Share Price Crosses Above 200 Day Moving Average – What’s Next?

VEON Ltd. (NASDAQ:VEON) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $49.69 and traded as high as $50.01. VEON shares last traded at $48.85, with a volume of 61,378 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Litchfield Hills Research upgraded shares of VEON to a “strong-buy” rating in a research report on Thursday, June 26th. Zacks Research upgraded shares of VEON from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of VEON in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $60.00.

VEON Trading Down 1.4%

The firm has a market cap of $3.61 billion, a PE ratio of 3.58 and a beta of 1.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The stock’s fifty day simple moving average is $54.86 and its two-hundred day simple moving average is $49.69.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $7.35. VEON had a net margin of 23.75% and a return on equity of 72.76%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On VEON

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its holdings in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after buying an additional 388 shares during the last quarter. Samson Rock Capital LLP bought a new position in VEON during the second quarter valued at approximately $138,000. GAMMA Investing LLC lifted its position in VEON by 21.3% during the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 635 shares during the period. Engineers Gate Manager LP bought a new position in VEON during the second quarter valued at approximately $243,000. Finally, Handelsbanken Fonder AB bought a new position in VEON during the second quarter valued at approximately $267,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.