Canaccord Genuity Group Raises Veeva Systems (NYSE:VEEV) Price Target to $260.00

Key Points

• Canaccord Genuity raised Veeva Systems’ price target from $220 to $260 but maintained a “hold” rating, implying 9.44% downside from the previous close of $287.12.
• Veeva reported quarterly revenue of approximately $928 million and EPS of $2.35, surpassing analyst estimates of $905 million and $2.22, respectively. Management also issued guidance above Wall Street expectations.
• Analyst sentiment remains broadly positive, with 19 buy ratings and an average price target of $274.96, although recent insider selling and valuation concerns point to potential near-term risks.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective raised by stock analysts at Canaccord Genuity Group from $220.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's price objective indicates a potential downside of 9.44% from the company's previous close.

VEEV has been the subject of several other reports. Robert W. Baird lifted their price target on Veeva Systems from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. Raymond James Financial reiterated an "outperform" rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Zacks Research downgraded Veeva Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Jefferies Financial Group restated a "buy" rating and issued a $295.00 price target on shares of Veeva Systems in a research note on Thursday. Finally, Needham & Company LLC set a $310.00 price target on shares of Veeva Systems in a research report on Thursday. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $274.96.

Veeva Systems Stock Performance

VEEV traded up $42.21 on Thursday, reaching $287.12. The company had a trading volume of 2,915,600 shares, compared to its average volume of 2,456,279. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a market cap of $46.64 billion, a P/E ratio of 51.11, a P/E/G ratio of 1.06 and a beta of 0.92. The company's fifty day moving average is $203.41 and its 200 day moving average is $183.04.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.13. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period last year, the business posted $1.99 earnings per share. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. 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. On average, sell-side analysts expect that Veeva Systems will post 6.65 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares of the company's stock, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sivia Capital Partners LLC boosted its position in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock worth $899,000 after acquiring an additional 2,164 shares in the last quarter. Bank of Nova Scotia raised its position in Veeva Systems by 44.5% during the second quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock valued at $1,689,000 after purchasing an additional 1,806 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock worth $2,543,000 after purchasing an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Veeva Systems by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company's stock worth $19,856,000 after buying an additional 1,452 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock worth $3,140,000 after buying an additional 575 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems News Roundup

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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