BMO Capital Markets Issues Pessimistic Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Key Points

• BMO Capital Markets cut its price target on Veeva Systems from $220 to $175 and kept a market perform rating, implying slight downside from the current share price.
• Other analysts also trimmed targets recently, including Piper Sandler and JPMorgan, though the broader analyst view remains Moderate Buy with a consensus price target of $255.39.
• Despite the cautious calls, Veeva’s latest quarter was strong: it beat earnings and revenue estimates, posted 16.3% year-over-year revenue growth, and issued guidance that came in above Wall Street expectations.

Veeva Systems (NYSE:VEEV - Get Free Report) had its target price cut by research analysts at BMO Capital Markets from $220.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the technology company's stock. BMO Capital Markets' price objective would indicate a potential downside of 2.07% from the stock's current price.

Several other research firms have also recently commented on VEEV. Piper Sandler lowered their target price on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Veeva Systems from $330.00 to $296.00 and set an "overweight" rating for the company in a report on Friday, February 20th. Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. Canaccord Genuity Group dropped their target price on Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a report on Thursday, March 5th. Finally, William Blair restated an "outperform" rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Seventeen investment 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $255.39.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $178.69 on Thursday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The business's fifty day moving average price is $166.29 and its two-hundred day moving average price is $196.71. The company has a market capitalization of $29.19 billion, a P/E ratio of 33.03, a PEG ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. During the same quarter in the prior year, the business posted $1.97 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. 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. On average, research analysts expect that Veeva Systems will post 6.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its holdings in shares of Veeva Systems by 5.3% in the first quarter. NewEdge Advisors LLC now owns 9,340 shares of the technology company's stock valued at $1,641,000 after buying an additional 466 shares in the last quarter. Caerus Investment Advisors LLC bought a new stake in shares of Veeva Systems during the 1st quarter worth $334,000. Allen Capital Group LLC grew its holdings in shares of Veeva Systems by 4.5% in the 1st quarter. Allen Capital Group LLC now owns 17,357 shares of the technology company's stock worth $3,049,000 after acquiring an additional 743 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Veeva Systems by 2,994.9% during the first quarter. Glenmede Trust Co. NA now owns 41,348 shares of the technology company's stock worth $7,263,000 after purchasing an additional 40,012 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Veeva Systems during the first quarter worth $5,593,000. 88.20% of the stock is currently owned by institutional investors.

More Veeva Systems News

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

• Positive Sentiment: Veeva beat first-quarter estimates, posting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million expected, with sales up 16.3% year over year. The company also said AI-related progress is helping drive the business. Article Title
• Positive Sentiment: Management issued upbeat guidance, including Q2 FY2027 EPS of $2.21 to $2.22 and revenue of $902 million to $905 million, both above Wall Street expectations. FY2027 EPS guidance was also above consensus, reinforcing confidence in continued growth. Article Title
• Positive Sentiment: Several analysts remained constructive after the earnings release: Needham reiterated a buy with a $270 target, BTIG kept a buy and lifted its target to $340, and Robert W. Baird raised its target to $260. Article Title
• Neutral Sentiment: Not all analyst updates were more bullish: Barclays and Piper Sandler both trimmed their price targets to $235, though each still kept an overweight rating, suggesting continued confidence despite slightly reduced expectations. Article Title

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.

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