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Veeva Systems Inc (NYSE:VEEV) Expected to Announce Quarterly Sales of $361.46 Million

Last updated on Tuesday, October 20, 2020 | 2020 MarketBeat

Brokerages expect Veeva Systems Inc (NYSE:VEEV) to post sales of $361.46 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Veeva Systems' earnings, with the highest sales estimate coming in at $363.10 million and the lowest estimate coming in at $360.30 million. Veeva Systems reported sales of $280.92 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 24th.

On average, analysts expect that Veeva Systems will report full-year sales of $1.42 billion for the current year, with estimates ranging from $1.42 billion to $1.43 billion. For the next year, analysts expect that the firm will report sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.73 billion. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow Veeva Systems.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 27th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.08. Veeva Systems had a return on equity of 15.77% and a net margin of 25.60%. The business had revenue of $353.68 million for the quarter, compared to analysts' expectations of $340.00 million. During the same period in the previous year, the firm posted $0.55 EPS. The company's quarterly revenue was up 32.5% on a year-over-year basis.

Several equities analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Veeva Systems from $253.00 to $323.00 and gave the stock an "overweight" rating in a research report on Monday, August 31st. Piper Sandler upped their price target on Veeva Systems from $220.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, August 28th. JMP Securities upped their price target on Veeva Systems from $210.00 to $293.00 in a report on Friday, August 28th. Stifel Nicolaus upped their price target on Veeva Systems from $225.00 to $300.00 and gave the company a "buy" rating in a report on Friday, August 28th. Finally, Raymond James upped their price objective on Veeva Systems from $230.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of "Buy" and an average price target of $273.28.

In other Veeva Systems news, CAO Michele O'connor sold 91 shares of the business's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $278.00, for a total transaction of $25,298.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mateo sold 2,666 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $259.35, for a total transaction of $691,427.10. Following the transaction, the executive vice president now owns 11,638 shares of the company's stock, valued at $3,018,315.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,127 shares of company stock valued at $6,677,373. Company insiders own 13.17% of the company's stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at $31,000. Jacobi Capital Management LLC bought a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. Creative Financial Designs Inc. ADV bought a new position in shares of Veeva Systems during the 2nd quarter valued at $47,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Veeva Systems during the 2nd quarter valued at $47,000. Finally, Duncker Streett & Co. Inc. bought a new position in shares of Veeva Systems during the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 79.56% of the company's stock.

Shares of NYSE VEEV opened at $302.19 on Tuesday. Veeva Systems has a one year low of $118.11 and a one year high of $313.99. The business's 50-day moving average price is $279.91 and its two-hundred day moving average price is $236.20. The company has a market capitalization of $45.58 billion, a P/E ratio of 146.69, a price-to-earnings-growth ratio of 9.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.56 and a quick ratio of 3.56.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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