Veeva Systems (NYSE:VEEV) Given New $225.00 Price Target at Oppenheimer

Veeva Systems (NYSE:VEEV) had its price target lowered by analysts at Oppenheimer from $275.00 to $225.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective suggests a potential upside of 38.73% from the company’s previous close.

A number of other research firms also recently issued reports on VEEV. Piper Sandler cut their price objective on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Barclays dropped their price target on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. JPMorgan Chase & Co. decreased their price objective on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Finally, Truist Financial reissued a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.52.

Veeva Systems Price Performance

NYSE:VEEV opened at $162.18 on Monday. The firm has a 50-day moving average of $171.47 and a 200-day moving average of $208.19. The company has a market cap of $26.49 billion, a PE ratio of 29.99, a PEG ratio of 0.71 and a beta of 0.92. Veeva Systems has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million during the quarter, compared to the consensus estimate of $810.95 million. During the same quarter in the previous year, the business earned $1.74 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities research analysts expect that Veeva Systems will post 6.41 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VEEV. GPS Wealth Strategies Group LLC boosted its holdings in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after acquiring an additional 55 shares during the period. SHP Wealth Management bought a new stake in shares of Veeva Systems during the 4th quarter valued at $26,000. Board of the Pension Protection Fund purchased a new stake in Veeva Systems during the 4th quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in Veeva Systems during the 3rd quarter worth about $28,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the period. 88.20% of the stock is owned by institutional investors.

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.