Veeva Systems (NYSE:VEEV) Price Target Cut to $220.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group cut its price target on Veeva Systems from $235 to $220 while keeping a hold rating, implying about 23.27% upside from the current price.
• Veeva reported a strong quarter, with EPS of $2.24 topping estimates and revenue of $882.95 million also beating expectations; revenue rose 16.3% year over year and the company raised guidance.
• Despite mixed analyst moves, the stock remains broadly supported: 18 analysts rate it a Buy, eight Hold, and one Sell, with a consensus rating of Moderate Buy and an average target price of $251.04.

Veeva Systems (NYSE:VEEV - Get Free Report) had its target price reduced by analysts at Canaccord Genuity Group from $235.00 to $220.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's price objective indicates a potential upside of 23.27% from the stock's current price.

VEEV has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Zacks Research downgraded shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Raymond James Financial reissued an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday. Wall Street Zen cut shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Sunday, March 22nd. Finally, UBS Group decreased their target price on shares of Veeva Systems from $220.00 to $190.00 and set a "neutral" rating for the company in a research report on Thursday. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $251.04.

Veeva Systems Stock Down 0.1%

Shares of NYSE VEEV traded down $0.26 during midday trading on Thursday, reaching $178.46. 1,559,134 shares of the company's stock traded hands, compared to its average volume of 2,683,616. The stock's 50 day simple moving average is $166.29 and its 200-day simple moving average is $196.71. Veeva Systems has a one year low of $148.05 and a one year high of $310.50. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The firm had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period last year, the firm earned $1.97 earnings per share. The company'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 analysts predict that Veeva Systems will post 6.45 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems 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 completion of the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Inflows and Outflows

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

Trending Headlines about Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva beat first-quarter expectations, reporting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million, with sales up 16.3% year over year. The company also lifted guidance for Q2 and FY2027, signaling continued momentum. Article Title
• Positive Sentiment: Management highlighted improving traction in AI initiatives, including the new Veeva Falcon offering and Ostro contribution expectations, which could support longer-term growth and product expansion. Article Title
• Positive Sentiment: Several firms remained constructive after the report, including Royal Bank of Canada reaffirming an outperform rating and BTIG/Needham reiterating buy ratings with high price targets, reinforcing optimism around execution and growth. Article Title
• Neutral Sentiment: UBS cut its target to $190 and downgraded the stock to neutral, while Barclays, Piper Sandler, and BMO also trimmed targets. These moves suggest some analysts think much of the near-term upside is already reflected in the shares. Article Title
• Neutral Sentiment: Despite the strong quarter, the stock appears to be consolidating as investors weigh the beat-and-raise results against valuation concerns and the mixed tone from several price-target revisions. Article Title

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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