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

Key Points

• Veeva Systems has a consensus analyst rating of “Moderate Buy” from 26 covering firms, with an average 1-year price target of about $276.52.
• The company’s latest quarterly results beat expectations, posting EPS of $2.06 versus the $1.94 consensus and revenue of $835.95 million, up 16% year over year.
• Despite some mixed analyst moves and a recent insider sale, Veeva remains heavily owned by institutions, which hold about 88.2% of the stock.

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $276.5217.

VEEV has been the topic of a number of research reports. Royal Bank Of Canada cut their target price on shares of Veeva Systems from $330.00 to $275.00 and set an "outperform" rating on the stock in a research note on Thursday, March 5th. Zacks Research lowered shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Canaccord Genuity Group cut their target price on shares of Veeva Systems from $280.00 to $235.00 and set a "hold" rating on the stock in a research note on Thursday, March 5th. Piper Sandler cut their target price on shares of Veeva Systems from $355.00 to $285.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Finally, Stifel Nicolaus lifted their target price on shares of Veeva Systems from $212.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, March 5th.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the business'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 sale, the director owned 3,253 shares of the company's stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Veeva Systems by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock worth $4,596,522,000 after acquiring an additional 457,806 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock worth $1,770,071,000 after acquiring an additional 235,983 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock worth $727,513,000 after acquiring an additional 271,252 shares in the last quarter. State Street Corp boosted its stake in Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company's stock worth $801,267,000 after acquiring an additional 85,695 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Veeva Systems by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company's stock worth $1,035,622,000 after acquiring an additional 159,984 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 0.1%

Shares of Veeva Systems stock opened at $158.69 on Thursday. The firm has a market cap of $25.92 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 0.70 and a beta of 0.92. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50. The company's fifty day simple moving average is $167.03 and its two-hundred day simple moving average is $200.87.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The company's revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, sell-side analysts expect that Veeva Systems will post 6.45 earnings per share for the current fiscal year.

Veeva Systems Company Profile

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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