Veeva Systems (NYSE:VEEV) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Veeva Systems from “buy” to “hold,” adding to a mixed analyst picture that still leans positive overall. The stock now carries a consensus rating of “Moderate Buy” with an average price target of $247.74.
• Several firms recently trimmed their price targets, including Piper Sandler, Mizuho, Stifel Nicolaus, and Canaccord Genuity, though others such as Needham reiterated bullish views. Analyst sentiment remains split, with 18 Buy ratings, 8 Hold ratings, and 1 Sell rating.
• Veeva reported strong quarterly results, beating EPS and revenue estimates with $2.24 EPS and $882.95 million in revenue, up 16.3% year over year. The company also said it expects FY2027 EPS of 9.05 and Q2 2027 EPS of 2.21-2.22.

Veeva Systems (NYSE:VEEV - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other research analysts have also weighed in on the company. Piper Sandler reduced their target price on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday, June 4th. Mizuho lowered their price target on shares of Veeva Systems from $295.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Stifel Nicolaus reduced their price objective on shares of Veeva Systems from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $235.00 to $220.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus price target of $247.74.

Veeva Systems Price Performance

Shares of VEEV stock opened at $195.62 on Friday. The company's fifty day simple moving average is $171.66 and its two-hundred day simple moving average is $182.85. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 0.85 and a beta of 0.94.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $857.73 million. During the same quarter in the prior year, the business posted $1.97 earnings per share. The business's quarterly revenue 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 anticipate that Veeva Systems will post 6.65 EPS for the current year.

Insider Activity at Veeva Systems

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

In related news, Director Priscilla Hung sold 750 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds have recently bought and sold shares of VEEV. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock valued at $727,513,000 after buying an additional 271,252 shares in the last quarter. State Street Corp grew its position in Veeva Systems by 2.4% in 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. Geode Capital Management LLC grew its position in Veeva Systems by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company's stock worth $706,442,000 after acquiring an additional 23,117 shares in the last quarter. AQR Capital Management LLC increased its stake in Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after acquiring an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Veeva Systems by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company's stock valued at $385,761,000 after purchasing an additional 189,093 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.