Veeva Systems (NYSE:VEEV) Reaches New 52-Week Low - Should You Sell?

Key Points

• Veeva Systems stock fell to a new 52-week low of $167.44 (down about 3.6%) as multiple analysts trimmed price targets; the consensus rating remains a "Moderate Buy" with an average target of $283.70, though Goldman Sachs initiated coverage with a "sell."
• The company beat quarterly estimates (EPS $2.06 vs. $1.94 expected; revenue $835.95M, +16% YoY) and announced a $2.0 billion share repurchase program — up to 5.5% of outstanding shares — signaling management confidence despite recent stock weakness.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $167.44 and last traded at $166.9680, with a volume of 1050941 shares traded. The stock had previously closed at $172.52.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler dropped their price target on Veeva Systems from $355.00 to $285.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC dropped their price target on Veeva Systems from $355.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Barclays lowered their target price on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group initiated coverage on Veeva Systems in a research note on Tuesday, January 13th. They set a "sell" rating and a $215.00 price target for the company. Finally, Canaccord Genuity Group decreased their price target on Veeva Systems from $280.00 to $235.00 and set a "hold" rating for the company in a report on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus price target of $283.70.

Veeva Systems Stock Down 3.6%

The stock has a fifty day moving average of $183.66 and a two-hundred day moving average of $231.84. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same quarter in the prior year, the company posted $1.74 earnings per share. Veeva Systems's quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has initiated a stock repurchase program on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the business's stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares of the company's stock, valued at $5,370,101.72. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 10.30% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC increased its stake in Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company's stock valued at $25,000 after purchasing an additional 55 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems in the third quarter worth about $28,000. OLD Second National Bank of Aurora purchased a new stake in shares of Veeva Systems in the third quarter worth about $30,000. SHP Wealth Management purchased a new position in Veeva Systems in the fourth quarter valued at about $26,000. Finally, Board of the Pension Protection Fund purchased a new position in Veeva Systems in the fourth quarter valued at about $27,000. 88.20% of the stock is owned by institutional investors and hedge funds.

About Veeva Systems

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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