Brokerages Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $247.08

Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $247.0833.

Several equities analysts have weighed in on VEEV shares. Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. BMO Capital Markets decreased their price target on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Robert W. Baird increased their price objective on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Wells Fargo & Company raised their price objective on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, June 4th.

Veeva Systems Stock Up 4.8%

VEEV stock opened at $253.17 on Tuesday. The company has a market capitalization of $41.12 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 1.04 and a beta of 0.92. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a 50 day moving average of $188.55 and a two-hundred day moving average of $180.40.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same quarter last year, the firm earned $1.97 EPS. Veeva Systems’s revenue for the quarter was up 16.3% on a year-over-year basis. 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. On average, research analysts expect that Veeva Systems will post 6.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SHP Wealth Management bought a new stake in Veeva Systems during the fourth quarter valued at about $26,000. Activest Wealth Management increased its stake in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 127 shares during the period. Arlington Trust Co LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth about $29,000. MV Capital Management Inc. acquired a new position in shares of Veeva Systems during the 4th quarter worth about $30,000. Finally, Reflection Asset Management bought a new stake in Veeva Systems during the 4th quarter valued at approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.