Barclays Boosts Veeva Systems (NYSE:VEEV) Price Target to $275.00

Key Points

• Barclays raised Veeva Systems’ price target from $235 to $275 and maintained an “overweight” rating, implying roughly 12% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $253.75, with 19 of 28 analysts assigning Buy or Strong Buy ratings.
• Veeva exceeded quarterly expectations, reporting $2.24 in earnings per share versus $2.14 expected and $882.95 million in revenue, up 16.3% year over year. An insider subsequently sold 36,000 shares worth about $9.0 million under a pre-arranged trading plan.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price target boosted by stock analysts at Barclays from $235.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Barclays's price target points to a potential upside of 12.01% from the stock's previous close.

A number of other analysts also recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, June 4th. BTIG Research restated a "buy" rating and set a $340.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. BNP Paribas Exane reissued an "outperform" rating and set a $285.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Stifel Nicolaus raised their target price on Veeva Systems from $230.00 to $275.00 and gave the company a "buy" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average price target of $253.75.

Veeva Systems Stock Performance

NYSE:VEEV opened at $245.50 on Tuesday. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50. The firm's 50-day simple moving average is $191.38 and its 200 day simple moving average is $180.68. The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 43.77, a P/E/G ratio of 1.05 and a beta of 0.92.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the firm posted $1.97 EPS. The firm's quarterly revenue was up 16.3% on a year-over-year basis. 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. Sell-side analysts anticipate that Veeva Systems will post 6.65 EPS for the current year.

Insider Activity

In other news, insider Thomas D. Schwenger sold 36,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was 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 directly owned 19,449 shares of the company's stock, valued at $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SHP Wealth Management bought a new stake in shares of Veeva Systems during the 4th quarter worth $26,000. Activest Wealth Management boosted its holdings in shares of Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 127 shares during the last quarter. MV Capital Management Inc. bought a new position in Veeva Systems during the fourth quarter valued at about $30,000. Reflection Asset Management bought a new position in Veeva Systems during the fourth quarter valued at about $32,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Veeva Systems during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

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.

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