Veeva Systems Inc. (NYSE:VEEV) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Veeva Systems has a “Moderate Buy” consensus rating from 28 analysts: 19 rate it a buy, eight recommend holding, and one rates it a sell. The average 12-month price target is $284.88.
• Recent analysts raised their price targets, with targets ranging from $275 to $340. Veeva also exceeded quarterly expectations, reporting $2.35 in EPS and $927.96 million in revenue, up 17.6% year over year.
• Veeva shares opened at $278.49, near the upper end of their 52-week range, while insiders sold 46,750 shares worth about $12 million over the past 90 days. Institutional investors own approximately 88.2% of the stock.

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-eight research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $284.88.

A number of research firms recently weighed in on VEEV. BTIG Research reaffirmed a "buy" rating and set a $340.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Robert W. Baird raised their price target on shares of Veeva Systems from $260.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Royal Bank Of Canada boosted their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Oppenheimer upped their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Finally, Morgan Stanley upped their price target on shares of Veeva Systems from $215.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, August 27th.

Insider Activity

In related news, insider Thomas Schwenger sold 36,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. The trade was a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares in the company, valued at $846,291.68. This represents a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 46,750 shares of company stock valued at $12,017,360. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. SHP Wealth Management bought a new position in shares of Veeva Systems in the 4th quarter worth $26,000. Compass Financial Management LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth $27,000. Arlington Trust Co LLC purchased a new position in Veeva Systems in the second quarter worth $29,000. Field & Main Bank purchased a new position in Veeva Systems in the second quarter worth $29,000. Finally, MV Capital Management Inc. bought a new position in Veeva Systems in the fourth quarter valued at $30,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of VEEV opened at $278.49 on Wednesday. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $310.50. The stock's 50-day simple moving average is $246.78 and its 200 day simple moving average is $198.08. The stock has a market capitalization of $45.09 billion, a price-to-earnings ratio of 45.80, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The business had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. During the same quarter in the previous year, the firm earned $1.99 EPS. 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. On average, research analysts forecast that Veeva Systems will post 6.7 earnings per share for the current fiscal year.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides applications and services for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other organizations involved in developing, manufacturing and commercializing regulated products.

The company's product portfolio includes the Veeva Vault platform, which supports areas such as clinical operations, regulatory affairs, quality management, safety and medical communications. Veeva also offers commercial and customer relationship management applications, data and analytics products, and services designed to help life sciences companies manage relationships with healthcare professionals, oversee content and improve operational efficiency.

Founded in 2007, Veeva serves customers globally and has expanded its offerings from commercial software into research, development, manufacturing and quality processes.

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