Veeva Systems (NYSE:VEEV) Stock Price Target Raised at Barclays

Key Points

• Barclays raised Veeva Systems’ price target from $360 to $375 and maintained an “overweight” rating, implying 18.75% upside from the prior close.
• Analyst sentiment remains positive, with 19 Buy, 8 Hold and 1 Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $290.50.
• Veeva exceeded quarterly expectations, reporting $2.35 in EPS versus a $2.23 estimate and $927.96 million in revenue, up 17.6% year over year; however, insiders have sold nearly $14.9 million of stock over the past 90 days.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective increased by analysts at Barclays from $360.00 to $375.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Barclays's price objective would indicate a potential upside of 18.75% from the stock's previous close.

Several other equities research analysts have also recently weighed in on VEEV. Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research report on Thursday, August 27th. UBS Group boosted their price objective on shares of Veeva Systems from $190.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Morgan Stanley upped their price objective on shares of Veeva Systems from $215.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased their target price on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Finally, Weiss Ratings raised Veeva Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $290.50.

Veeva Systems Stock Up 0.7%

Shares of NYSE VEEV traded up $2.34 during midday trading on Wednesday, reaching $315.80. The company had a trading volume of 560,150 shares, compared to its average volume of 2,287,674. Veeva Systems has a one year low of $148.05 and a one year high of $325.99. The firm's fifty day moving average price is $280.05 and its 200-day moving average price is $208.66. The stock has a market cap of $51.13 billion, a PE ratio of 51.94 and a beta of 0.93.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to the consensus estimate of $905.38 million. During the same quarter in the previous year, the business earned $1.99 earnings per share. Veeva Systems's 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. As a group, equities research analysts expect that Veeva Systems will post 6.70 EPS for the current year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director directly owned 3,242 shares of the company's stock, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Schwenger sold 10,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the completion of the transaction, the insider directly owned 19,449 shares of the company's stock, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 56,789 shares of company stock valued at $14,913,889. 10.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VEEV. Czech National Bank bought a new stake in Veeva Systems during the second quarter valued at approximately $7,584,000. Vulcan Value Partners LLC bought a new position in Veeva Systems in the second quarter worth approximately $3,769,000. East Coast Asset Management LLC. bought a new position in Veeva Systems in the first quarter worth approximately $1,665,000. Westwind Capital bought a new position in Veeva Systems in the third quarter worth approximately $1,684,000. Finally, Rockland Trust Co. boosted its stake in shares of Veeva Systems by 21.4% during the 2nd quarter. Rockland Trust Co. now owns 173,760 shares of the technology company's stock worth $30,837,000 after acquiring an additional 30,678 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

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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