Barclays Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Key Points

• Barclays raised its price target for Veeva Systems from $315 to $360 and maintained an “overweight” rating, implying about 13.5% upside from the reported share price.
• Analyst sentiment remains positive overall: 19 analysts rate the stock a Buy, eight recommend Hold and one recommends Sell, with a consensus price target of $287.79.
• Veeva recently exceeded quarterly expectations, reporting $2.35 in EPS versus a $2.23 consensus estimate and $927.96 million in revenue, up 17.6% year over year; however, insiders sold roughly $14.9 million of stock during the quarter.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective increased by stock analysts at Barclays from $315.00 to $360.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Barclays's target price indicates a potential upside of 13.49% from the company's current price.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus set a $300.00 price objective on Veeva Systems in a report on Thursday, August 27th. Morgan Stanley upped their price target on shares of Veeva Systems from $215.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, August 27th. TD Cowen increased their price target on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. UBS Group raised their price objective on shares of Veeva Systems from $190.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. Finally, Oppenheimer restated an "outperform" rating and issued a $325.00 price objective on shares of Veeva Systems in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $287.79.

Veeva Systems Stock Performance

NYSE VEEV traded up $6.85 during trading hours on Monday, hitting $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 company has a market cap of $51.36 billion, a PE ratio of 52.18, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93. The business has a 50 day moving average of $269.81 and a 200-day moving average of $208.18.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million for the quarter, compared to analysts' expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The business's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous 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. Sell-side analysts expect that Veeva Systems will post 6.70 earnings per share for the current fiscal year.

Insider Activity

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total transaction of $1,557,944.56. Following the completion of the sale, the senior vice president directly owned 4,130 shares in the company, valued at approximately $1,237,843.60. The trade was a 55.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 56,789 shares of company stock valued at $14,913,889. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of institutional investors have recently modified their holdings of the business. Investment Research & Advisory Group Inc. raised its holdings in Veeva Systems by 0.4% in the third quarter. Investment Research & Advisory Group Inc. now owns 12,942 shares of the technology company's stock valued at $3,699,000 after buying an additional 51 shares during the period. KRS Capital Management LLC acquired a new position in Veeva Systems during the third quarter valued at approximately $287,000. Avail Investment Partners LLC purchased a new stake in Veeva Systems during the third quarter worth approximately $290,000. Guardian Asset Advisors LLC purchased a new stake in Veeva Systems during the third quarter worth approximately $210,000. Finally, Hengehold Capital Management LLC acquired a new stake in shares of Veeva Systems in the third quarter worth $288,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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.

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