VEON (VEON) is in focus after three recent moves, including World Cup 2026 streaming rights for Banglalink’s Toffee platform, the Uklon Store launch in Ukraine, and the appointment of a new Chief of Staff and Strategy Officer.

These digital moves arrive as VEON’s share price sits at US$52.42, with a 1 day share price return of 3.82% and a 90 day share price return of 6.87%. The 1 year total shareholder return of 31.02% and 3 year total shareholder return of around 1.5x suggest that momentum has been building over a longer horizon, despite a recent 30 day share price return that is down 3.44%.

If you are weighing VEON’s telecom and digital ecosystem against other opportunities, it could be a useful time to scan companies with stronger infrastructure angles through our 35 power grid technology and infrastructure stocks

With VEON reporting US$4,574m in revenue, US$532m in net income and trading at US$52.42, along with a sizeable gap to the average analyst price target, the key question is whether the stock is mispriced value or already reflecting future growth.

Most Popular Narrative: 37.2% Undervalued

The most followed narrative puts VEON's fair value at $83.44, well above the last close at $52.42, and ties that gap to its digital expansion story.

VEON is aggressively expanding digital service offerings (including fintech, super apps, ride-hailing, entertainment, and AI-driven products) in emerging markets that are rapidly digitalizing and seeing surging demand for mobile internet and data. This is presented as positioning the company to achieve ongoing subscriber growth and ARPU uplift, which in turn is cited as supporting future revenue and EBITDA growth.

The narrative highlights the difference between the quoted fair value and the recent share price and attributes that gap to expectations around revenue trends, margins, and an earnings multiple that is described as being below sector levels. The full breakdown explains how these elements are combined into a single pricing framework.

Result: Fair Value of $83.44 (UNDERVALUED)

However, currency swings in core markets and the impact of asset sales or market exits could still challenge the earnings and valuation narrative that investors are watching.

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Next Steps

Mixed signals around value and growth can be hard to interpret, so consider acting while the details are fresh and weigh both sides using the 5 key rewards and 1 important warning sign.

Ready to hunt for more ideas?

If VEON has your attention, do not stop here. Put that interest to work by scanning other stocks that could fit your goals before opportunities move on.

• Target potential mispricings by running through companies flagged in our 43 high quality undervalued stocks.
• Prioritise resilience by focusing on businesses highlighted in the 68 resilient stocks with low risk scores.
• Spot under-the-radar opportunities by checking the screener containing 20 high quality undiscovered gems.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.