Veeva Systems (NYSE:VEEV) Given New $260.00 Price Target at Canaccord Genuity Group

Veeva Systems (NYSE:VEEV) had its target price upped by equities researchers at Canaccord Genuity Group from $220.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would suggest a potential downside of 9.44% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Stifel Nicolaus set a $300.00 target price on shares of Veeva Systems in a research report on Thursday. Citigroup lifted their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Finally, Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $274.96.

Veeva Systems Trading Up 17.2%

NYSE:VEEV traded up $42.21 on Thursday, hitting $287.12. The company had a trading volume of 2,915,600 shares, compared to its average volume of 2,456,279. The stock has a market capitalization of $46.64 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 1.06 and a beta of 0.92. The firm has a 50 day moving average of $203.41 and a two-hundred day moving average of $183.04. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. The firm had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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, equities analysts forecast that Veeva Systems will post 6.65 EPS for the current year.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Empire Life Investments Inc. increased its stake in shares of Veeva Systems by 21.1% during the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after purchasing an additional 6,453 shares during the last quarter. Czech National Bank purchased a new position in Veeva Systems in the second quarter valued at approximately $7,584,000. BNP Paribas grew its holdings in Veeva Systems by 89.3% during the fourth quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock valued at $4,308,000 after purchasing an additional 9,077 shares during the period. ABN Amro Investment Solutions grew its holdings in Veeva Systems by 28.4% during the fourth quarter. ABN Amro Investment Solutions now owns 76,809 shares of the technology company’s stock valued at $17,146,000 after purchasing an additional 17,007 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in Veeva Systems during the fourth quarter valued at $2,453,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems News Summary

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

• Positive Sentiment: Fiscal Q2 revenue rose 17.6% year over year to approximately $928 million, exceeding the $905 million consensus estimate. Adjusted earnings of $2.35 per share also beat expectations of $2.22 and increased from $1.99 a year earlier. Veeva Announces Fiscal 2027 Second Quarter Results
• Positive Sentiment: Management issued fiscal Q3 revenue guidance of $932 million to $935 million and EPS guidance of $2.33 to $2.34, both above Wall Street estimates. Full-year fiscal 2027 EPS guidance of $9.21 also topped the $8.58 consensus, while revenue guidance was raised above expectations.
• Positive Sentiment: AI momentum and strong customer adoption supported the outlook. Veeva reported record CRM performance, said Vault CRM maintains more than 70% market share, and expects its first Veeva Falcon AI deployments to go live this year. Veeva Q2 Earnings Call Highlights
• Positive Sentiment: Several firms raised their targets following the report: RBC increased its target to $325 and retained an “outperform” rating; Guggenheim raised its target to $310 with a “buy” rating; and Truist lifted its target to $305, also maintaining a “buy” rating. These revisions helped validate the bullish market reaction.
• Neutral Sentiment: UBS raised its target substantially to $290 but kept a “neutral” rating, indicating that the firm sees limited additional upside after the recent rally. Benzinga analyst coverage
• Negative Sentiment: Morgan Stanley increased its target to $275 but maintained an “equal weight” rating, placing its valuation below the current trading level and highlighting potential near-term valuation risk. Morgan Stanley price-target update

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.