Citigroup Boosts Veeva Systems (NYSE:VEEV) Price Target to $273.00

Key Points

• Citigroup raised its Veeva Systems price target to $273 from $190 but maintained a neutral rating, implying approximately 3.6% downside from the prior close.
• Analyst sentiment is broadly positive: Veeva has a consensus “Moderate Buy” rating and an average price target of $284.46, with several firms recently lifting targets above $300.
• Veeva exceeded quarterly expectations, reporting $927.96 million in revenue and $2.35 adjusted EPS, while revenue grew 17.6% year over year; however, its elevated valuation and recent share-price gains may limit near-term upside.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price target increased by research analysts at Citigroup from $190.00 to $273.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Citigroup's price objective would suggest a potential downside of 3.63% from the company's previous close.

A number of other equities research analysts have also commented on VEEV. Mizuho increased their price target on Veeva Systems from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday. Weiss Ratings upgraded Veeva Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Barclays boosted their price objective on Veeva Systems from $275.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group increased their target price on Veeva Systems from $190.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Piper Sandler raised their target price on Veeva Systems from $295.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $284.46.

Veeva Systems Stock Up 0.4%

NYSE:VEEV traded up $1.15 on Friday, reaching $283.28. The stock had a trading volume of 626,683 shares, compared to its average volume of 2,467,295. The company has a market capitalization of $46.02 billion, a P/E ratio of 46.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The stock has a fifty day moving average price of $206.00 and a 200-day moving average price of $183.73.

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 for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.37%. The firm had revenue of $927.96 million for the quarter, compared to analysts' expectations of $905.38 million. During the same period in the prior year, the firm earned $1.99 earnings per share. The company's quarterly revenue 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. Sell-side analysts predict that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VEEV. Williams Jones Wealth Management LLC. raised its position in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Veeva Systems by 0.7% in the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after acquiring an additional 54 shares during the last quarter. Main Management ETF Advisors LLC increased its position in Veeva Systems by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock worth $1,224,000 after purchasing an additional 56 shares during the period. Finally, Root Financial Partners LLC increased its position in Veeva Systems by 17.1% in the fourth quarter. Root Financial Partners LLC now owns 383 shares of the technology company's stock worth $85,000 after purchasing an additional 56 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems News Roundup

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Q2 results exceeded expectations: Revenue increased 17.6% year over year to $928.0 million, surpassing the $905.4 million consensus estimate, while adjusted EPS of $2.35 beat expectations of approximately $2.23. Veeva Announces Fiscal 2027 Second Quarter Results
• Positive Sentiment: Guidance was raised above Wall Street forecasts: Veeva projected fiscal Q3 revenue of $932 million to $935 million and EPS of $2.33 to $2.34, both ahead of consensus. Full-year fiscal 2027 EPS guidance of $9.21 and revenue guidance of approximately $3.7 billion also exceeded analyst estimates. Veeva Systems Q2 Earnings and Revenues Beat Estimates, Stock Up
• Positive Sentiment: AI and CRM momentum support the growth outlook: Management highlighted strong demand for Falcon AI, record Vault CRM execution and continued adoption of its R&D cloud. The company expects its first Falcon customer deployments this year, reinforcing expectations that AI can contribute to future revenue growth. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
• Positive Sentiment: Analyst support strengthened: Several firms raised price targets after the report, including RBC to $325, Barclays to $315, Guggenheim to $310 and Baird to $300. Veeva’s approximately $2 billion buyback, substantial cash and investments, and minimal debt also provide support for EPS growth and financial resilience. Veeva Systems PT Raised to $325 at RBC
• Neutral Sentiment: Despite multiple target increases, UBS, Morgan Stanley, BMO and Canaccord maintained neutral or market-perform ratings, suggesting some analysts believe much of the improved outlook is already reflected in the stock price.
• Negative Sentiment: Valuation remains a risk: Veeva trades at a relatively high earnings multiple after its post-earnings surge, while several revised targets—including those from BMO, Canaccord and Morgan Stanley—remain below the recent share price, limiting near-term upside according to those firms.

Veeva Systems Company Profile

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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