Veeva Systems (NYSE:VEEV) Receives "Outperform" Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed an outperform rating on Veeva Systems and kept a $275 price target, implying about 51% upside from the prior close.
• Veeva’s latest quarterly results beat expectations, with EPS of $2.24 versus $2.14 expected and revenue of $882.95 million versus $857.73 million expected, while revenue rose 16.3% year over year.
• Analyst sentiment remains largely positive overall, though some firms trimmed targets: the stock carries a Moderate Buy consensus with an average price target of $254.09.

Veeva Systems (NYSE:VEEV - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $275.00 price target on the technology company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 51.38% from the company's previous close.

A number of other research firms have also weighed in on VEEV. Citigroup lowered Veeva Systems from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday. Barclays reduced their price objective on shares of Veeva Systems from $250.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday. BMO Capital Markets cut their target price on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus set a $230.00 price target on shares of Veeva Systems in a research note on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $254.09.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $181.66 on Thursday. The company has a market capitalization of $29.67 billion, a P/E ratio of 33.48, a P/E/G ratio of 0.81 and a beta of 0.95. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The firm'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 announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $857.73 million. During the same period in the prior year, the company posted $1.97 earnings per share. The company'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, sell-side analysts anticipate that Veeva Systems will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the business's stock in a transaction 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 sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors have recently bought and sold shares of the business. Jensen Investment Management Inc. boosted its holdings in shares of Veeva Systems by 1,924.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company's stock worth $123,100,000 after purchasing an additional 392,802 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in Veeva Systems in the third quarter worth $422,241,000. ABN AMRO Bank N.V. bought a new stake in Veeva Systems in the third quarter worth $246,625,000. Robeco Institutional Asset Management B.V. boosted its stake in Veeva Systems by 11.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company's stock worth $199,137,000 after buying an additional 90,703 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Veeva Systems by 293.4% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,979 shares of the technology company's stock worth $8,037,000 after buying an additional 20,121 shares during the period. Institutional investors own 88.20% of the company's stock.

Key Stories Impacting Veeva Systems

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

• Positive Sentiment: Veeva beat first-quarter estimates, posting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million expected, with sales up 16.3% year over year. The company also said AI-related progress is helping drive the business. Article Title
• Positive Sentiment: Management issued upbeat guidance, including Q2 FY2027 EPS of $2.21 to $2.22 and revenue of $902 million to $905 million, both above Wall Street expectations. FY2027 EPS guidance was also above consensus, reinforcing confidence in continued growth. Article Title
• Positive Sentiment: Several analysts remained constructive after the earnings release: Needham reiterated a buy with a $270 target, BTIG kept a buy and lifted its target to $340, and Robert W. Baird raised its target to $260. Article Title
• Neutral Sentiment: Not all analyst updates were more bullish: Barclays and Piper Sandler both trimmed their price targets to $235, though each still kept an overweight rating, suggesting continued confidence despite slightly reduced expectations. Article Title

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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