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.
Featured Article: Using other technical indicators with support levels
Get a free copy of the Zacks research report on Veeva Systems (VEEV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
15 Healthcare Stocks that Analysts Love
There are more than 200 healthcare companies traded on public markets. Given the sheer number of pharmaceutical companies, medical research firms, hospital systems, and other healthcare stocks, it can be hard to identify which healthcare companies will outperform the market.
Fortunately, Wall Street's brightest minds have already done this for us. Every year, analysts issue approximately 3,000 distinct recommendations for healthcare companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when several analysts from different brokerages and research firms are giving "strong-buy" and "buy" ratings to the same healthcare stock.
This slide show lists the 15 healthcare companies with the highest average analyst recommendations from Wall Street's equities research analysts over the last 12 months.
View the "15 Healthcare Stocks that Analysts Love".