Zegona Communications (LON:ZEG) Given Buy Rating at Berenberg Bank

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reissued by research analysts at Berenberg Bank in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a GBX 2,300 target price on the stock. Berenberg Bank’s price target points to a potential upside of 32.18% from the company’s current price.

A number of other brokerages have also recently weighed in on ZEG. Canaccord Genuity Group decreased their price target on shares of Zegona Communications from GBX 2,500 to GBX 2,450 and set a “buy” rating for the company in a research note on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,200 target price on shares of Zegona Communications in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 2,316.67.

Zegona Communications Stock Performance

Shares of ZEG opened at GBX 1,740 on Thursday. The company’s 50 day simple moving average is GBX 1,599.80 and its 200-day simple moving average is GBX 1,675.94. The firm has a market cap of £3.92 billion, a PE ratio of -58.00 and a beta of 3.41. Zegona Communications has a 12-month low of GBX 1,145 and a 12-month high of GBX 1,962. The company has a current ratio of 0.69, a quick ratio of 6.23 and a debt-to-equity ratio of 619.81.

Insider Transactions at Zegona Communications

In other news, insider Timothy Pennington acquired 6,588 shares of Zegona Communications stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of GBX 15 per share, for a total transaction of £988.20. Also, insider Suzi Williams bought 1,632 shares of the company’s stock in a transaction on Monday, June 29th. The shares were acquired at an average price of GBX 1,716 per share, for a total transaction of £28,005.12. Insiders own 41.82% of the company’s stock.

About Zegona Communications

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.