The Goldman Sachs Group Issues Pessimistic Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Key Points

• Goldman Sachs cut Veeva Systems’ price target from $190 to $165 and kept a sell rating, implying about 7.3% downside from the current share price.
• Despite the bearish call, Veeva’s latest quarter was strong: it posted $2.24 EPS on $882.95 million revenue, both above expectations, with revenue up 16.3% year over year.
• Analyst views remain mixed overall, with the stock carrying a Moderate Buy consensus and a consensus target of $250.38, even as some firms trimmed targets after the earnings report.

Veeva Systems (NYSE:VEEV - Get Free Report) had its target price cut by analysts at The Goldman Sachs Group from $190.00 to $165.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the technology company's stock. The Goldman Sachs Group's price objective would suggest a potential downside of 7.29% from the stock's current price.

VEEV has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $275.00 target price on shares of Veeva Systems in a report on Thursday. BMO Capital Markets decreased their target price on Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $225.00 target price on shares of Veeva Systems in a report on Thursday. Stifel Nicolaus decreased their target price on Veeva Systems from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Morgan Stanley raised their target price on Veeva Systems from $205.00 to $215.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.38.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded down $0.75 on Thursday, hitting $177.97. 2,155,818 shares of the company's stock were exchanged, compared to its average volume of 2,689,152. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The company has a 50-day simple moving average of $166.29 and a 200-day simple moving average of $196.71. The stock has a market capitalization of $29.07 billion, a PE ratio of 32.88, a PEG ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $857.73 million. During the same period last year, the firm earned $1.97 EPS. Veeva Systems'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, analysts expect that Veeva Systems will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director directly owned 3,253 shares of the company's stock, valued at $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Trading of Veeva Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC raised its stake in Veeva Systems by 0.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,444 shares of the technology company's stock worth $3,707,000 after acquiring an additional 35 shares during the last quarter. Personal CFO Solutions LLC raised its stake in Veeva Systems by 3.5% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock worth $346,000 after acquiring an additional 39 shares during the last quarter. AFT Forsyth & Company Inc. raised its stake in Veeva Systems by 4.2% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 984 shares of the technology company's stock worth $293,000 after acquiring an additional 40 shares during the last quarter. Williams Jones Wealth Management LLC. raised its stake in Veeva Systems by 0.4% in the 3rd quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock worth $2,806,000 after acquiring an additional 40 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock worth $1,982,000 after acquiring an additional 51 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems News Summary

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

• Positive Sentiment: Veeva reported better-than-expected Q1 results, with adjusted EPS of $2.24 and revenue of $882.9 million, both topping estimates, while revenue rose 16.3% year over year. Veeva Announces Fiscal 2027 First Quarter Results
• Positive Sentiment: The company also raised guidance, with Q2 and FY2027 outlooks coming in above consensus, which suggests management sees continued momentum in subscription growth and profitability. Veeva systems earnings and guidance coverage
• Positive Sentiment: Several firms remained constructive after the report, including Oppenheimer reaffirming an outperform rating with a $225 target, RBC reiterating outperform with a $275 target, and Needham and BTIG keeping buy ratings with targets of $270 and $340, respectively. Analyst rating updates
• Positive Sentiment: Management highlighted AI initiatives, including Veeva Falcon and traction from Ostro, which may support longer-term growth expectations. Veeva Systems Inc (VEEV) Q1 2027 Earnings Call Highlights
• Neutral Sentiment: Some analysts trimmed price targets after the results, including Barclays, Piper Sandler, and Canaccord, though they still maintained positive or neutral ratings, signaling a more cautious view on the pace of upside. Analyst price target changes
• Negative Sentiment: BMO Capital cut its target to $175 and downgraded the stock to market perform, while UBS lowered its target to $190 and moved to neutral, adding to valuation pressure on the shares. More analyst downgrades

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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