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

Key Points

• Analysts assign Veeva an average rating of Moderate Buy from 25 firms (17 buy, 7 hold, 1 sell) with a 12‑month average price target of about $283.70.
• Veeva beat March‑quarter expectations with EPS of $2.06 vs. $1.94 est. and revenue of $835.95M (up 16% YoY), and set FY2027 guidance near $8.85 EPS with Q1 guidance of roughly $2.13–$2.14.
• The board authorized a $2.0 billion share repurchase program to buy back up to about 5.5% of outstanding shares.

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $283.6957.

Several research firms have recently weighed in on VEEV. Morgan Stanley lifted their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a report on Thursday, March 5th. William Blair restated an "outperform" rating on shares of Veeva Systems in a research report on Tuesday. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird increased their target price on shares of Veeva Systems from $314.00 to $319.00 and gave the stock an "outperform" rating in a research note on Friday, November 21st. Finally, KeyCorp restated a "sector weight" rating on shares of Veeva Systems in a research report on Friday, December 12th.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares of the company's stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. GPS Wealth Strategies Group LLC raised its holdings in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock worth $25,000 after purchasing an additional 55 shares during the last quarter. SHP Wealth Management purchased a new stake in Veeva Systems in the 4th quarter valued at approximately $26,000. Board of the Pension Protection Fund acquired a new stake in Veeva Systems during the 4th quarter valued at $27,000. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $28,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Down 1.2%

Veeva Systems stock opened at $178.68 on Friday. The company's 50-day moving average price is $199.82 and its 200-day moving average price is $243.99. The company has a market cap of $29.37 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. Veeva Systems has a twelve month low of $168.13 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to analysts' expectations of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.Veeva Systems's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. 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 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its board has approved a share repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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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