VEON (NASDAQ:VEON) Shares Gap Up – Should You Buy?

VEON Ltd. (NASDAQ:VEON)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $51.99, but opened at $53.95. VEON shares last traded at $54.9250, with a volume of 91,205 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on VEON shares. Wall Street Zen downgraded VEON from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research lowered VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

VEON Stock Up 4.2%

The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 3.97 and a beta of 1.58. The business’s 50 day moving average price is $50.70 and its 200 day moving average price is $51.14.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). VEON had a return on equity of 72.76% and a net margin of 23.75%.The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. VEON has set its FY 2025 guidance at EPS.

VEON declared that its Board of Directors has approved a share repurchase plan on Monday, November 17th that permits the company to buyback 0 shares. This buyback authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On VEON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEON. Osaic Holdings Inc. grew its stake in shares of VEON by 36.8% in the 2nd 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 period. Samson Rock Capital LLP purchased a new stake in shares of VEON in the 2nd quarter valued at approximately $138,000. Truist Financial Corp acquired a new stake in shares of VEON during the 3rd quarter worth about $208,000. Personal CFO Solutions LLC acquired a new stake in VEON during the 3rd quarter worth $208,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of VEON in the third quarter valued at approximately $211,000. 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.