Free Trial

Analysts Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $269.80

Veeva Systems logo with Medical background

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $269.80.

A number of analysts have recently issued reports on VEEV shares. Morgan Stanley raised their target price on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Citigroup lifted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th.

View Our Latest Stock Report on Veeva Systems

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider directly owned 25,889 shares of the company's stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the transaction, the director owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at $685,355,000. Nuveen LLC acquired a new position in shares of Veeva Systems during the 1st quarter valued at $365,684,000. Norges Bank acquired a new position in shares of Veeva Systems during the 4th quarter valued at $294,785,000. Wealthfront Advisers LLC lifted its position in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock valued at $924,754,000 after acquiring an additional 689,700 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Performance

Veeva Systems stock traded down $2.99 during mid-day trading on Monday, reaching $281.30. The company's stock had a trading volume of 1,162,629 shares, compared to its average volume of 1,161,251. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. Veeva Systems has a 12 month low of $177.41 and a 12 month high of $291.69. The business's 50 day simple moving average is $261.22 and its 200 day simple moving average is $237.56.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, sell-side analysts expect that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems Company Profile

(Get Free Report

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

Featured Stories

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

Should You Invest $1,000 in Veeva Systems Right Now?

Before you consider Veeva Systems, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veeva Systems wasn't on the list.

While Veeva Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Made in America Stocks Under $20 You Need to See!
3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines