Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment remains positive for Veeva Systems, with 27 brokerages giving it an average rating of “Moderate Buy.” The consensus 12-month price target is about $250.96, well above the stock’s recent trading level.
• In its latest quarterly results, Veeva beat earnings and revenue expectations, reporting EPS of $2.24 versus $2.14 expected and revenue of $882.95 million versus $857.73 million estimated. Revenue rose 16.3% year over year.
• Despite the upbeat fundamentals, the stock has been under pressure, recently trading near $153.20, close to its 52-week low of $148.05 and far below its 52-week high of $310.50. Some analysts have recently trimmed price targets or downgraded ratings, reflecting caution around the shares.

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $250.9583.

VEEV has been the topic of several recent research reports. Mizuho cut their price objective on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Raymond James Financial reissued an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research note on Thursday, June 4th. Zacks Research cut shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets lowered their target price on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a research note on Thursday, June 4th.

Veeva Systems Stock Down 0.1%

Shares of NYSE:VEEV opened at $153.20 on Monday. The company has a market cap of $24.89 billion, a PE ratio of 27.31, a P/E/G ratio of 0.66 and a beta of 0.95. The company's 50-day moving average price is $163.55 and its 200 day moving average price is $188.87. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. Veeva Systems's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $1.97 EPS. 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. As a group, equities analysts anticipate that Veeva Systems will post 6.65 EPS for the current 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 shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares of the company's stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently bought and sold shares of the stock. Personal CFO Solutions LLC increased its stake in shares of Veeva Systems by 3.5% during the third quarter. Personal CFO Solutions LLC now owns 1,163 shares of the technology company's stock valued at $346,000 after buying an additional 39 shares during the period. Williams Jones Wealth Management LLC. increased its stake in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock valued at $2,806,000 after buying an additional 40 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Veeva Systems by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Veeva Systems by 8.1% during the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after buying an additional 54 shares during the period. Finally, Northwest Wealth Management LLC increased its stake in shares of Veeva Systems by 6.1% during the fourth quarter. Northwest Wealth Management LLC now owns 956 shares of the technology company's stock valued at $213,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

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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