Several brokerages have updated their recommendations and price targets on shares of Veeva Systems (NYSE: VEEV) in the last few weeks:

  • 9/5/2016 – Veeva Systems was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Veeva Systems ended the second quarter of 2017 on an impressive note, beating the Zacks Consensus Estimate on both lines. Further, the company’s raised guidance for fiscal 2017 is indicating a growing trend ahead. Veeva Systems has exclusively strengthened the recurring part of its revenue mix by marking significant growth in subscription revenues in the reported quarter. Moreover, the new launches in the Veeva Vault and the Veeva Coomercial Cloud platforms are highly encouraging. The company is also supported by the considerable strength in its CRM platform. However, increasing competition, high operating expenses and a saturating life sciences market are key concerns.”
  • 9/2/2016 – Veeva Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “Veeva Systems ended the second quarter of 2017 on an impressive note, beating the Zacks Consensus Estimate on both lines. Further, the company’s raised guidance for fiscal 2017 is indicating a growing trend ahead. Veeva Systems has exclusively strengthened the recurring part of its revenue mix by marking significant growth in subscription revenues in the reported quarter. Moreover, the new launches in the Veeva Vault and the Veeva Coomercial Cloud platforms are highly encouraging. The company is also supported by the considerable strength in its CRM platform. However, increasing competition, high operating expenses and a saturating life sciences market are key concerns.”
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at Morgan Stanley from $44.00 to $48.00. They now have an “overweight” rating on the stock.
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at Needham & Company LLC from $38.00 to $43.00. They now have a “buy” rating on the stock.
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at Canaccord Genuity from $35.00 to $43.00. They now have a “buy” rating on the stock.
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at Citigroup Inc. from $40.00 to $42.00. They now have a “neutral” rating on the stock.
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at KeyCorp from $35.00 to $42.00. They now have an “overweight” rating on the stock.
  • 8/31/2016 – Veeva Systems had its price target raised by analysts at Stifel Nicolaus from $40.00 to $43.00. They now have a “buy” rating on the stock.
  • 8/31/2016 – Veeva Systems was given a new $42.00 price target on by analysts at Pacific Crest. They now have a “buy” rating on the stock.
  • 8/29/2016 – Veeva Systems had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $43.00 price target on the stock, up previously from $35.00.
  • 8/24/2016 – Veeva Systems is now covered by analysts at Raymond James Financial Inc.. They set a “market perform” rating on the stock.
  • 8/23/2016 – Veeva Systems had its price target raised by analysts at Citigroup Inc. from $31.00 to $40.00. They now have a “neutral” rating on the stock.
  • 8/16/2016 – Veeva Systems had its “buy” rating reaffirmed by analysts at Morgan Stanley. They now have a $44.00 price target on the stock.
  • 7/26/2016 – Veeva Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Veeva provided a positive guidance for fiscal 2017. The company is confident that it will be able to achieve the billings growth target for the fiscal supported by continuing strong demand for the CRM platform. Drug giant GlaxoSmithKline (GSK) recently expanded its relationship with Veeva, which speaks volumes about the growing traction of the company’s commercial cloud. Growing adoption of non-CRM solutions is also a key growth catalyst. However, increasing competition and a saturating life sciences market are key concerns.”

Shares of Veeva Systems Inc. (NYSE:VEEV) traded down 0.73% on Monday, hitting $40.65. The company had a trading volume of 141,328 shares. The firm’s 50 day moving average price is $38.98 and its 200-day moving average price is $32.04. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58. The stock has a market capitalization of $5.54 billion, a PE ratio of 109.86 and a beta of 1.59.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company earned $131.30 million during the quarter, compared to analysts’ expectations of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. Veeva Systems’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. Analysts forecast that Veeva Systems Inc. will post $0.60 earnings per share for the current fiscal year.

In other Veeva Systems news, Director Gordon Ritter sold 16,134 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $33.01, for a total value of $532,583.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 42,441 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $41.42, for a total value of $1,757,906.22. The disclosure for this sale can be found here. Corporate insiders own 19.17% of the company’s stock.

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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