Veeva Systems Inc. (NYSE:VEEV) Stock Has Consensus Target Price of $287.79 According to Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $293.21.

A number of research analysts recently issued reports on the company. Oppenheimer restated an “outperform” rating and set a $325.00 price target on shares of Veeva Systems in a research note on Thursday, October 15th. Barclays increased their price target on Veeva Systems from $360.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. TD Cowen boosted their price objective on shares of Veeva Systems from $235.00 to $283.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Finally, Guggenheim raised their target price on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th.

Veeva Systems Stock Up 0.9%

Shares of VEEV opened at $313.04 on Friday. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $325.99. The stock has a market cap of $50.68 billion, a PE ratio of 51.49, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The firm’s fifty day moving average is $283.97 and its two-hundred day moving average is $209.79.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, research analysts anticipate that Veeva Systems will post 6.70 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Daniel Rizzo sold 4,841 shares of Veeva Systems stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total value of $1,338,584.91. Following the sale, the executive vice president directly owned 7,665 shares in the company, valued at $2,119,449.15. The trade was a 38.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares in the company, valued at $846,291.68. This represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,789 shares of company stock valued at $14,913,889 over the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC boosted its holdings in Veeva Systems by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 5,972 shares of the technology company’s stock worth $1,929,000 after buying an additional 55 shares in the last quarter. Ascent Group LLC acquired a new position in Veeva Systems in the third quarter worth approximately $232,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Veeva Systems in the third quarter valued at $3,130,000. Rakuten Investment Management Inc. increased its holdings in shares of Veeva Systems by 8.5% in the third quarter. Rakuten Investment Management Inc. now owns 26,793 shares of the technology company’s stock valued at $7,464,000 after buying an additional 2,096 shares in the last quarter. Finally, Provenance Wealth Advisors LLC lifted its position in shares of Veeva Systems by 2,192.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 573 shares of the technology company’s stock valued at $164,000 after acquiring an additional 548 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

About Veeva Systems

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.