Canaccord Genuity Group Lowers Zegona Communications (LON:ZEG) Price Target to GBX 2,450

Zegona Communications (LON:ZEG) had its price target decreased by equities researchers at Canaccord Genuity Group from GBX 2,500 to GBX 2,450 in a note issued to investors on Thursday, Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 34.91% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Berenberg Bank reissued a “buy” rating and issued a GBX 2,300 price objective on shares of Zegona Communications in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Zegona Communications in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 2,316.67.

Zegona Communications Price Performance

Shares of LON ZEG opened at GBX 1,816 on Thursday. The company has a market capitalization of £4.10 billion, a PE ratio of -60.53 and a beta of 3.41. The company has a quick ratio of 6.23, a current ratio of 0.70 and a debt-to-equity ratio of 592.64. The stock’s 50 day moving average price is GBX 1,559.33 and its 200-day moving average price is GBX 1,672.31. Zegona Communications has a twelve month low of GBX 1,145 and a twelve month high of GBX 1,962.

Insiders Place Their Bets

In related news, insider Suzi Williams acquired 1,632 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average cost of GBX 1,716 per share, for a total transaction of £28,005.12. Also, insider Timothy Pennington acquired 6,588 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average cost of GBX 15 per share, for a total transaction of £988.20. 41.82% of the stock is owned by company insiders.

Zegona Communications Company Profile

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.

In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.