Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $247.7391.

A number of analysts have weighed in on the company. 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. Weiss Ratings upgraded Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Canaccord Genuity Group decreased their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $275.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Finally, UBS Group dropped their price target on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th.

Veeva Systems Trading Down 4.0%

Shares of VEEV opened at $189.46 on Friday. The company has a market capitalization of $30.78 billion, a PE ratio of 33.77, a PEG ratio of 0.85 and a beta of 0.94. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50. The stock’s 50-day moving average price is $173.03 and its two-hundred day moving average price is $182.13.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS 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 company had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same period in the prior year, the firm posted $1.97 EPS. The company’s quarterly revenue 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. Equities research analysts predict that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other 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 sale, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Large investors have recently bought and sold shares of the stock. SHP Wealth Management bought a new stake in Veeva Systems in the fourth quarter valued at $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems during the fourth quarter worth about $27,000. Newbridge Financial Services Group Inc. increased its position in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in Veeva Systems in the 4th quarter valued at about $30,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

About Veeva Systems

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.