Veeva Systems (NYSE:VEEV) Price Target Cut to $220.00 by Analysts at Canaccord Genuity Group

Veeva Systems (NYSE:VEEV) had its target price dropped by equities researchers at Canaccord Genuity Group from $235.00 to $220.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 23.27% from the stock’s current price.

VEEV has been the subject of several other research reports. Morgan Stanley raised their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. TD Cowen reissued a “buy” rating on shares of Veeva Systems in a report on Thursday. Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday. Finally, Citigroup lowered Veeva Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $291.00 to $176.00 in a report on Friday, April 10th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.04.

Veeva Systems Trading Down 0.1%

Shares of NYSE VEEV traded down $0.26 during midday trading on Thursday, reaching $178.46. The company had a trading volume of 1,559,134 shares, compared to its average volume of 2,683,616. The business’s 50-day simple moving average is $166.29 and its 200 day simple moving average is $196.71. The stock has a market cap of $29.15 billion, a P/E ratio of 32.90, a P/E/G ratio of 0.81 and a beta of 0.95. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to analysts’ expectations of $857.73 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company posted $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Analysts predict that Veeva Systems will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in Veeva Systems by 5.3% in the first quarter. NewEdge Advisors LLC now owns 9,340 shares of the technology company’s stock valued at $1,641,000 after buying an additional 466 shares in the last quarter. Caerus Investment Advisors LLC purchased a new position in Veeva Systems in the first quarter valued at $334,000. Allen Capital Group LLC increased its holdings in Veeva Systems by 4.5% in the first quarter. Allen Capital Group LLC now owns 17,357 shares of the technology company’s stock valued at $3,049,000 after buying an additional 743 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Veeva Systems by 2,994.9% in the first quarter. Glenmede Trust Co. NA now owns 41,348 shares of the technology company’s stock valued at $7,263,000 after buying an additional 40,012 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Veeva Systems in the first quarter valued at $5,593,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva beat first-quarter expectations, reporting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million, with sales up 16.3% year over year. The company also lifted guidance for Q2 and FY2027, signaling continued momentum. Article Title
• Positive Sentiment: Management highlighted improving traction in AI initiatives, including the new Veeva Falcon offering and Ostro contribution expectations, which could support longer-term growth and product expansion. Article Title
• Positive Sentiment: Several firms remained constructive after the report, including Royal Bank of Canada reaffirming an outperform rating and BTIG/Needham reiterating buy ratings with high price targets, reinforcing optimism around execution and growth. Article Title
• Neutral Sentiment: UBS cut its target to $190 and downgraded the stock to neutral, while Barclays, Piper Sandler, and BMO also trimmed targets. These moves suggest some analysts think much of the near-term upside is already reflected in the shares. Article Title
• Neutral Sentiment: Despite the strong quarter, the stock appears to be consolidating as investors weigh the beat-and-raise results against valuation concerns and the mixed tone from several price-target revisions. Article Title

Veeva Systems Company Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.