Veeva Systems (NYSE:VEEV) Receives “Buy” Rating from Needham & Company LLC

Veeva Systems (NYSE:VEEV)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $270.00 target price on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 8.76% from the stock’s previous close.

Several other analysts have also commented on the stock. Oppenheimer lifted their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Raymond James Financial reissued an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Wells Fargo & Company increased their price target on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Weiss Ratings raised shares of Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Finally, BMO Capital Markets decreased their price target on shares of 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. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $255.58.

Veeva Systems Price Performance

VEEV opened at $248.26 on Monday. The company’s 50 day simple moving average is $198.19 and its two-hundred day simple moving average is $181.80. The firm has a market capitalization of $40.33 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50.

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

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of Veeva Systems stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company’s stock, valued at $4,866,723.27. The trade was a 64.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VEEV. SHP Wealth Management purchased a new position in Veeva Systems in the fourth quarter valued at approximately $26,000. Activest Wealth Management lifted its position in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $30,000. Reflection Asset Management acquired a new position in shares of Veeva Systems in the 4th quarter valued at $32,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.