Veeva Systems (NYSE:VEEV) Price Target Lowered to $235.00 at Piper Sandler

Key Points

• Piper Sandler cut its price target on Veeva Systems to $235 from $285, while keeping an overweight rating. The new target still implies about 31.5% upside from the current share price.
• Veeva’s latest earnings beat expectations, with Q1 EPS of $2.24 and revenue of $882.95 million topping estimates. Revenue rose 16.3% year over year, and the company also issued guidance above consensus.
• Analyst sentiment remains broadly positive despite some mixed moves: the stock has 17 Buy ratings, 8 Holds, and 1 Sell, with a consensus target of $264.04. However, some analysts trimmed targets or downgraded the stock, reflecting caution around valuation.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective decreased by analysts at Piper Sandler from $285.00 to $235.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Piper Sandler's price objective points to a potential upside of 31.51% from the stock's current price.

A number of other equities analysts have also commented on VEEV. Zacks Research lowered shares of Veeva Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Stifel Nicolaus set a $230.00 price target on shares of Veeva Systems in a report on Thursday. William Blair reissued an "outperform" rating on shares of Veeva Systems in a report on Tuesday, March 10th. Evercore reissued an "outperform" rating and issued a $185.00 price target on shares of Veeva Systems in a report on Thursday. Finally, Truist Financial reissued a "buy" rating and issued a $262.00 price target (down from $275.00) on shares of Veeva Systems in a report on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $264.04.

Veeva Systems Price Performance

NYSE VEEV opened at $178.69 on Thursday. 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 $29.19 billion, a PE ratio of 33.03, a P/E/G ratio of 0.81 and a beta of 0.95. The company's 50 day simple moving average is $166.29 and its two-hundred day simple moving average is $196.71.

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 net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $882.95 million for the quarter, compared to analysts' expectations of $857.73 million. During the same period in the prior year, the company posted $1.97 EPS. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. 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, research analysts anticipate that Veeva Systems will post 6.45 EPS for the current year.

Insider Activity at Veeva Systems

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

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Veeva Systems by 5.3% during the 1st quarter. NewEdge Advisors LLC now owns 9,340 shares of the technology company's stock valued at $1,641,000 after purchasing an additional 466 shares during the last quarter. Caerus Investment Advisors LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at $334,000. Allen Capital Group LLC grew its holdings in shares of Veeva Systems by 4.5% during the 1st quarter. Allen Capital Group LLC now owns 17,357 shares of the technology company's stock valued at $3,049,000 after purchasing an additional 743 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Veeva Systems by 2,994.9% during the 1st quarter. Glenmede Trust Co. NA now owns 41,348 shares of the technology company's stock valued at $7,263,000 after purchasing an additional 40,012 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Veeva Systems during the 1st quarter valued at $5,593,000. Institutional investors own 88.20% of the company's stock.

More Veeva Systems News

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

• Positive Sentiment: Veeva reported Q1 revenue of about $882.9 million and adjusted EPS of $2.24, both ahead of estimates, showing continued demand and profitability improvement. Veeva Systems (VEEV) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management issued Q2 revenue guidance of roughly $902 million-$905 million and EPS guidance of $2.21-$2.22, both above consensus, signaling confidence in near-term growth. Veeva Announces Fiscal 2027 First Quarter Results
• Positive Sentiment: Veeva highlighted AI innovations during the earnings call, which may support future product adoption and help the company deepen its competitive position in life sciences software. Veeva Systems Inc (VEEV) Q1 2027 Earnings Call Highlights: Surpassing Revenue Guidance and Unveiling AI Innovations
• Neutral Sentiment: Several summaries of the results emphasized that the quarter’s headline numbers were strong, but investors are still parsing the full transcript and details behind the outlook. Veeva Systems Inc. (VEEV) Q1 2027 Earnings Call Transcript
• Negative Sentiment: Despite the beat-and-raise report, some coverage noted the shares slipped after the announcement, suggesting the market may have been positioned for strong results or is focused on valuation and broader market sentiment. Veeva Shares Slip Despite Beating Q1 Estimates: Details

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.