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

Key Points

• Veeva Systems has a “Moderate Buy” consensus rating from 28 analysts: 18 recommend buying, eight rate it a hold, one rates it a sell, and one gives it a strong buy. The average 12-month price target is $247.08.
• Recent analyst views were mixed, with BNP Paribas Exane and Oppenheimer reiterating outperform ratings, while BMO Capital Markets and Piper Sandler lowered their price targets.
• Veeva exceeded quarterly expectations, reporting $2.24 in EPS versus $2.14 expected and $882.95 million in revenue, up 16.3% year over year. Its shares opened at $234.27, with a market capitalization of approximately $38.05 billion.

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $247.0833.

A number of brokerages have commented on VEEV. BNP Paribas Exane restated an "outperform" rating and set a $285.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Oppenheimer reaffirmed an "outperform" rating on shares of Veeva Systems in a report on Monday, July 20th. BMO Capital Markets dropped their price target 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. Piper Sandler cut their price target on shares of Veeva Systems from $285.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 3rd.

Veeva Systems Stock Performance

Shares of VEEV opened at $234.27 on Tuesday. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The firm has a 50-day simple moving average of $184.73 and a 200-day simple moving average of $179.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to analysts' expectations of $857.73 million. During the same quarter in the previous year, the firm posted $1.97 EPS. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. 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. Equities research analysts forecast that Veeva Systems will post 6.65 EPS for the current year.

Institutional Trading of Veeva Systems

A number of institutional investors have recently modified their holdings of VEEV. SHP Wealth Management purchased a new stake in Veeva Systems during the fourth quarter worth about $26,000. Activest Wealth Management increased its holdings in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 127 shares in the last quarter. Arlington Trust Co LLC purchased a new position in Veeva Systems in the second quarter valued at about $29,000. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $30,000. Finally, Reflection Asset Management acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $32,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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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