VEON Ltd (NASDAQ:VEON) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.12, but opened at $3.19. VEON shares last traded at $3.20, with a volume of 8,524,277 shares changing hands.

Several equities research analysts have commented on VEON shares. Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating in a report on Thursday. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. UBS Group lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating and upped their price target for the company from $22.00 to $25.00 in a report on Monday, June 17th. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, July 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $3.19.

The firm has a market capitalization of $5.60 billion, a P/E ratio of -13.91 and a beta of 1.81. The business’s fifty day simple moving average is $2.60.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $2.12 billion for the quarter. VEON had a net margin of 10.00% and a negative return on equity of 17.37%. Research analysts forecast that VEON Ltd will post 0.49 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Segantii Capital Management Ltd acquired a new position in shares of VEON in the first quarter worth about $10,450,000. Hsbc Holdings PLC raised its position in shares of VEON by 15.1% in the fourth quarter. Hsbc Holdings PLC now owns 1,481,318 shares of the Wireless communications provider’s stock worth $3,466,000 after acquiring an additional 194,554 shares during the period. Marshall Wace North America L.P. raised its position in shares of VEON by 2,866.4% in the first quarter. Marshall Wace North America L.P. now owns 1,042,217 shares of the Wireless communications provider’s stock worth $2,178,000 after acquiring an additional 1,007,083 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of VEON in the fourth quarter worth about $47,000. Finally, Geode Capital Management LLC raised its position in shares of VEON by 70.1% in the fourth quarter. Geode Capital Management LLC now owns 1,762,145 shares of the Wireless communications provider’s stock worth $4,123,000 after acquiring an additional 726,359 shares during the period. Institutional investors and hedge funds own 16.22% of the company’s stock.

VEON Company Profile (NASDAQ:VEON)

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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