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

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $247.0833.

A number of analysts recently weighed in on the stock. BNP Paribas Exane reiterated an “outperform” rating and issued a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. The Goldman Sachs Group cut their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. 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. Finally, Stifel Nicolaus decreased their price target on shares of Veeva Systems from $245.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, June 4th.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the transaction, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors have recently modified their holdings of VEEV. SHP Wealth Management bought a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in Veeva Systems in the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 100 shares during the period. Activest Wealth Management boosted its holdings in shares of Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the period. Finally, MV Capital Management Inc. bought a new stake in shares of Veeva Systems during the fourth quarter worth $30,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 2.8%

NYSE VEEV opened at $179.36 on Friday. The stock has a 50-day simple moving average of $174.05 and a 200 day simple moving average of $181.57. The company has a market capitalization of $29.14 billion, a PE ratio of 31.97, a P/E/G ratio of 0.79 and a beta of 0.94. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million for 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 company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, sell-side analysts predict that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

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.