VEON Ltd. (NASDAQ:VEON) Stock Price Doing The Right Things?

The stock is lingering around the initial support level of $2.51. After this, the following support is at the zone of $2.48. Up until the time the VEON stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 58.6 on the daily chart, and this may be a cause for concern. In case the price goes below $2.48 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $2.6 level may cause a pull-back move approaching $2.66 mark.

VEON Ltd. (VEON) is most likely going to rise 24.23 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $3.6 as 12-month high price target. This represents a whopping 38.46 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $3.4, which means a return possibility of 30.77 percent in comparison with the closing price of the stock of $2.6 in recent trading session. The lowest price set for the stock is $2.9 which is just above 11.54 percent from VEON share’s price at the end of session.

In the recent trading session, VEON Ltd. (NASDAQ:VEON) shares gained 1.96% or 0.05 points to reach at $2.6 with a thin trading volume of 1.113 million shares. It opened the trading session at $2.62, the shares rose to $2.62 and dropped to $2.53, the range by which the price of stock traded the whole session. The company now has a market cap of $4.34 billion and currently has 1.7 billion outstanding shares. VEON Ltd. (VEON) stock has accumulated 2 percent of market value in 21 trading days.

Stock analysts at Goldman upped their rating on shares of VEON Ltd. (NASDAQ:VEON) from Neutral to a new rating of Buy in their opinion released on July 11. BofA/Merrill analysts bumped their recommendation on VEON stock from prior rating of Neutral to Buy in a separate flash note to investors on July 09. Analysts at UBS issued an upgrade for the stock to Buy from previous rating of Neutral, in a research note that dated back to June 17.

VEON stock’s trailing 3-year beta is 1.84, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.33 share in the trailing 52 weeks. The stock’s value surged 0.79 percent year to date (YTD) compared to a decline of -1.54 percent in 52 week’s period. The firm’s shares are still trading -20.61 percent below its 1-year high of $3.28 and 25.6 percent up from 52-week low of $2.07. The average consensus ranking on the company is 2.1, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

VEON Ltd. (VEON) shares are trading at a P/E ratio of 7.91 times earnings posted in the trailing 12 months. The industry VEON deals with has an average P/E of 16.22. Its P/B ratio is standing at 1.26X compared to the 2.05 industry average. It is additionally sporting a 0.47 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.35. VEON Ltd. has a 77.2% gross profit margin, with its operating margin around 20.5%. Alongside this, the company’s net profit margin currently stands at 6.6%.

Past records have indicated that shares in VEON Ltd. declined on 6 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of VEON’s Q4 earnings on February 14. Analysts are predicting revenue to climb 1.1 percent to $2.27B in the financial fourth quarter, while EPS will soar by about 400 percent to $0.05 per share. In the last quarter, it’s earnings of $0.1141 per share came better than the $0.09, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $2.25B. Earnings are seen to rise by -245.2 percent this year, 3.06 percent in the coming year.