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

Veeva Systems Inc. (NYSE:VEEV) has earned a consensus rating of “Moderate Buy” from the twenty-six analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $276.5217.

VEEV has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Barclays decreased their price objective on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Oppenheimer decreased their price objective on shares of Veeva Systems from $275.00 to $225.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. TD Cowen cut their price target on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Tuesday, March 10th.

Veeva Systems Trading Up 8.4%

Veeva Systems stock opened at $188.90 on Thursday. The stock has a market cap of $30.85 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.95. The company has a fifty day simple moving average of $166.44 and a 200-day simple moving average of $198.31. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, sell-side analysts forecast that Veeva Systems will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of VEEV. GPS Wealth Strategies Group LLC raised its stake in Veeva Systems by 196.4% during the 3rd 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 in the last quarter. SHP Wealth Management acquired a new position in Veeva Systems in the fourth quarter valued at $26,000. Board of the Pension Protection Fund acquired a new position in Veeva Systems in the fourth quarter valued at $27,000. Raiffeisen Bank International AG acquired a new position in Veeva Systems in the third quarter valued at $28,000. Finally, Newbridge Financial Services Group Inc. increased its stake in 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 purchasing an additional 100 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.