Veeva Systems (NYSE:VEEV) Price Target Lowered to $175.00 at BMO Capital Markets

Veeva Systems (NYSE:VEEV) had its price objective lowered by equities researchers at BMO Capital Markets from $220.00 to $175.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would indicate a potential downside of 2.07% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $262.00 price target (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. Evercore reaffirmed an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer decreased their price target on shares of Veeva Systems from $275.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Finally, TD Cowen lowered their price objective on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.39.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $178.69 on Thursday. The firm has a 50 day simple moving average of $166.29 and a 200 day simple moving average of $196.71. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50. The company has a market cap of $29.19 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. During the same period in the previous year, the company posted $1.97 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. 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, equities analysts predict that Veeva Systems will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG bought a new stake in Veeva Systems in the third quarter worth approximately $28,000. SHP Wealth Management bought a new position in shares of Veeva Systems during the 4th quarter valued at $26,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $27,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in 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 in the last quarter. Institutional investors own 88.20% of the company’s stock.

Key Headlines Impacting Veeva Systems

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

• Positive Sentiment: Veeva beat first-quarter estimates, posting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million expected, with sales up 16.3% year over year. The company also said AI-related progress is helping drive the business. Article Title
• Positive Sentiment: Management issued upbeat guidance, including Q2 FY2027 EPS of $2.21 to $2.22 and revenue of $902 million to $905 million, both above Wall Street expectations. FY2027 EPS guidance was also above consensus, reinforcing confidence in continued growth. Article Title
• Positive Sentiment: Several analysts remained constructive after the earnings release: Needham reiterated a buy with a $270 target, BTIG kept a buy and lifted its target to $340, and Robert W. Baird raised its target to $260. Article Title
• Neutral Sentiment: Not all analyst updates were more bullish: Barclays and Piper Sandler both trimmed their price targets to $235, though each still kept an overweight rating, suggesting continued confidence despite slightly reduced expectations. Article Title

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.