Canaccord Genuity Group Issues Pessimistic Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price objective lowered by analysts at Canaccord Genuity Group from $300.00 to $280.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 16.18% from the stock’s current price.

A number of other research analysts have also recently issued reports on VEEV. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $290.00 to $330.00 in a research note on Monday, September 8th. Truist Financial increased their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, August 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $305.84.

Veeva Systems Trading Down 10.9%

VEEV stock traded down $29.49 during midday trading on Friday, hitting $241.01. The company had a trading volume of 2,944,327 shares, compared to its average volume of 1,297,234. The stock has a market cap of $39.50 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 2.22 and a beta of 0.98. Veeva Systems has a 52 week low of $201.54 and a 52 week high of $310.50. The stock’s 50 day moving average price is $288.39 and its 200 day moving average price is $278.47.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The company had revenue of $811.24 million for the quarter, compared to analysts’ expectations of $792.37 million. During the same period last year, the firm earned $1.75 earnings per share. Veeva Systems’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. Analysts predict that Veeva Systems will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $298.12, for a total transaction of $214,646.40. Following the sale, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. The trade was a 8.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 24,665 shares of company stock valued at $7,438,000. Insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ASR Vermogensbeheer N.V. increased its position in Veeva Systems by 64.2% during the second quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock valued at $1,488,000 after acquiring an additional 2,020 shares during the last quarter. QRG Capital Management Inc. increased its position in Veeva Systems by 15.7% during the 2nd quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock valued at $3,678,000 after purchasing an additional 1,735 shares during the period. Merit Financial Group LLC raised its stake in Veeva Systems by 12.5% in the second quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock worth $13,030,000 after buying an additional 5,042 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Veeva Systems by 9.3% in the 2nd quarter. Nordea Investment Management AB now owns 391,273 shares of the technology company’s stock worth $110,832,000 after acquiring an additional 33,378 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Veeva Systems by 1.9% in the second quarter. Teacher Retirement System of Texas now owns 143,469 shares of the technology company’s stock worth $41,316,000 after buying an additional 2,659 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.