Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Veeva Systems has a consensus analyst rating of "Moderate Buy", with 18 buy ratings, 8 holds, and 1 sell among 27 covering brokerages. The average 12-month price target is about $247.74.
• The company reported better-than-expected Q1 earnings, posting EPS of $2.24 versus $2.14 expected and revenue of $882.95 million versus $857.73 million estimated. Revenue also rose 16.3% year over year.
• Shares were up 2.0% in Friday trading, while institutional interest remains strong, with 88.2% of the stock held by institutions and hedge funds. Recent research notes were mixed, with several firms reaffirming buy ratings but some trimming price targets or downgrading to hold.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-seven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is $247.7391.

VEEV has been the topic of a number of recent research reports. TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research report on Thursday, June 4th. BTIG Research reaffirmed a "buy" rating and set a $340.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. Finally, Zacks Research downgraded shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th.

Veeva Systems Trading Up 2.0%

VEEV opened at $197.63 on Friday. The stock has a market capitalization of $32.10 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.83 and a beta of 0.94. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50. The firm's fifty day simple moving average is $171.07 and its 200 day simple moving average is $182.76.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company's revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. On average, equities research analysts predict that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insiders Place Their Bets

• Veeva Systems NYSE: VEEV Stock a Buy: Cloud Software for Life Sciences

In related news, Director Priscilla Hung sold 750 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in Veeva Systems during the fourth quarter worth about $332,412,000. Durable Capital Partners LP bought a new position in Veeva Systems in the second quarter valued at approximately $281,351,000. Arrowstreet Capital Limited Partnership increased its position in shares of Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock worth $160,427,000 after purchasing an additional 611,868 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock worth $706,078,000 after purchasing an additional 574,164 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company's stock worth $288,983,000 after purchasing an additional 498,971 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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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