Veeva Systems Inc. (NYSE:VEEV) Receives $247.08 Consensus Target Price from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $252.0833.

VEEV has been the topic of a number of recent research reports. Evercore reissued an “outperform” rating and issued a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. TD Cowen restated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and issued a $340.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Oppenheimer raised their price objective on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday.

Veeva Systems Trading Down 2.2%

Shares of VEEV opened at $238.40 on Tuesday. The firm has a market cap of $38.73 billion, a PE ratio of 42.50, a P/E/G ratio of 1.05 and a beta of 0.92. The firm has a fifty day simple moving average of $191.38 and a two-hundred day simple moving average of $180.68. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $1.97 EPS. 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, research analysts forecast that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently bought and sold shares of the stock. Williams Jones Wealth Management LLC. increased its position in Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock worth $2,806,000 after buying an additional 40 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Veeva Systems by 0.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock valued at $1,982,000 after buying an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock valued at $214,000 after buying an additional 54 shares in the last quarter. Main Management ETF Advisors LLC grew its stake in shares of Veeva Systems by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock valued at $1,224,000 after acquiring an additional 56 shares during the period. Finally, Root Financial Partners LLC grew its stake in shares of Veeva Systems by 17.1% during the 4th quarter. Root Financial Partners LLC now owns 383 shares of the technology company’s stock valued at $85,000 after acquiring an additional 56 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.