Veeva Systems Inc (VEEV) Receives $67.51 Consensus Price Target from Brokerages
Veeva Systems Inc (NYSE:VEEV) has earned a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $67.51.
A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. DA Davidson assumed coverage on Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price target on the stock. Vetr upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a report on Thursday, February 8th. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a report on Wednesday, December 6th. Finally, Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th.
In related news, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on Monday, December 18th. The stock was sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $2,787,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of Veeva Systems stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total value of $1,376,640.00. Following the sale, the president now directly owns 24,000 shares of the company’s stock, valued at approximately $1,376,640. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,417 shares of company stock valued at $9,502,103. Insiders own 19.17% of the company’s stock.
Shares of Veeva Systems (VEEV) traded up $0.82 during midday trading on Wednesday, hitting $59.76. The company had a trading volume of 1,180,825 shares, compared to its average volume of 1,020,000. The firm has a market cap of $8,450.00, a PE ratio of 65.67, a price-to-earnings-growth ratio of 6.08 and a beta of 1.66. Veeva Systems has a twelve month low of $41.30 and a twelve month high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. equities research analysts forecast that Veeva Systems will post 0.68 earnings per share for the current fiscal year.
Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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