Veeva Systems (NYSE:VEEV) Raised to "Buy" at Wall Street Zen

Key Points

• Veeva Systems has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling positive sentiment among analysts.
• Multiple analysts have increased their price targets for the stock, with BTIG Research setting a target of $340.00 and Needham & Company LLC raising theirs to $355.00.
• Despite a strong revenue increase of 16.7% from the previous year, Veeva reported a lower than expected EPS of $1.26 compared to consensus estimates of $1.90.

Veeva Systems (NYSE:VEEV - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other equities analysts have also commented on the company. BTIG Research upped their target price on Veeva Systems from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC increased their price objective on Veeva Systems from $300.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Weiss Ratings reissued a "hold (c+)" rating on shares of Veeva Systems in a report on Wednesday. Oppenheimer reissued an "outperform" rating and issued a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Barclays increased their price objective on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $307.58.

Veeva Systems Trading Down 3.8%

NYSE:VEEV opened at $287.04 on Friday. The firm has a market capitalization of $47.05 billion, a PE ratio of 58.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98. The stock has a 50 day moving average of $282.91 and a 200-day moving average of $264.86. Veeva Systems has a 52 week low of $201.54 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.64). The company had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.62 earnings per share. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, analysts predict that Veeva Systems will post 4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $298.12, for a total value of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares of the company's stock, valued at $2,345,608.16. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock worth $7,438,000 over the last ninety days. Company insiders own 10.30% of the company's stock.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at $29,000. Abound Financial LLC acquired a new stake in shares of Veeva Systems during the 1st quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at $32,000. ORG Partners LLC acquired a new stake in shares of Veeva Systems during the 1st quarter valued at $26,000. Finally, Maseco LLP acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 88.20% of the company's stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

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