Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer raised Veeva Systems’ price target from $225 to $300 and maintained an “outperform” rating, implying 24.13% upside from the prior close.
• Analyst sentiment remains broadly positive: Veeva has a “Moderate Buy” consensus rating and an average price target of $252.08, based on 1 Strong Buy, 18 Buys, 8 Holds and 1 Sell.
• Veeva recently beat quarterly expectations, reporting $2.24 in EPS versus $2.14 expected and revenue of $882.95 million, up 16.3% year over year; shares traded down 0.8% at $241.68.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price target increased by investment analysts at Oppenheimer from $225.00 to $300.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Oppenheimer's target price would indicate a potential upside of 24.13% from the company's previous close.

A number of other analysts also recently weighed in on the company. Citigroup increased their price objective on Veeva Systems from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Wells Fargo & Company upped their price target on Veeva Systems from $317.00 to $320.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. TD Cowen reissued a "buy" rating on shares of Veeva Systems in a research note on Thursday, June 4th. Mizuho lowered their price objective on Veeva Systems from $295.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. Finally, Weiss Ratings raised Veeva Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $252.08.

Veeva Systems Trading Down 0.8%

NYSE:VEEV traded down $2.07 during mid-day trading on Monday, hitting $241.68. 66,787 shares of the company's stock were exchanged, compared to its average volume of 2,492,284. The company has a 50 day simple moving average of $189.96 and a 200-day simple moving average of $180.54. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The firm has a market capitalization of $39.26 billion, a P/E ratio of 42.96, a PEG ratio of 1.05 and a beta of 0.92.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to analysts' expectations of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company's revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 EPS. 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. As a group, analysts expect that Veeva Systems will post 6.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SHP Wealth Management acquired a new stake in Veeva Systems during the fourth quarter worth approximately $26,000. Activest Wealth Management lifted its stake in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company's stock valued at $29,000 after buying an additional 127 shares during the period. Arlington Trust Co LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. MV Capital Management Inc. acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management bought a new stake in shares of Veeva Systems in the 4th quarter valued at $32,000. 88.20% of the stock is owned by institutional investors.

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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