Barclays Forecasts Strong Price Appreciation for Veeva Systems (NYSE:VEEV) Stock

Veeva Systems (NYSE:VEEV) had its target price upped by stock analysts at Barclays from $315.00 to $360.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 13.49% from the stock’s previous close.

A number of other equities analysts have also commented on VEEV. Jefferies Financial Group reiterated a “buy” rating and issued a $295.00 price objective on shares of Veeva Systems in a report on Thursday, August 27th. Wells Fargo & Company restated an “overweight” rating and set a $330.00 target price on shares of Veeva Systems in a research note on Tuesday, September 8th. UBS Group lifted their target price on Veeva Systems from $190.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. TD Cowen boosted their price target on Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Robert W. Baird increased their price target on Veeva Systems from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.79.

Veeva Systems Price Performance

NYSE VEEV traded up $6.85 on Monday, reaching $317.21. The company had a trading volume of 954,028 shares, compared to its average volume of 2,319,993. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $319.95. The firm has a 50-day moving average of $269.81 and a 200-day moving average of $208.18. The firm has a market capitalization of $51.36 billion, a PE ratio of 52.18, a P/E/G ratio of 1.32 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last announced its 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 the consensus estimate of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 earnings per share. 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, sell-side analysts expect that Veeva Systems will post 6.70 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the sale, the director owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 36,000 shares of the 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 transaction, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. The trade was a 64.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 56,789 shares of company stock valued at $14,913,889. 10.60% of the stock is owned by insiders.

Institutional Trading of Veeva Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. SHP Wealth Management bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $26,000. Compass Financial Management LLC bought a new position in Veeva Systems during the second quarter worth $27,000. Burkett Financial Services LLC bought a new position in Veeva Systems during the third quarter worth $27,000. Arlington Trust Co LLC acquired a new stake in shares of Veeva Systems during the second quarter worth $29,000. Finally, Field & Main Bank bought a new position in shares of Veeva Systems in the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.