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

Key Points

• Stifel Nicolaus raised Veeva Systems’ price target from $230 to $275 and maintained a “buy” rating, implying 12.89% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $248.96, despite some firms lowering their targets.
• Veeva exceeded quarterly expectations, reporting $2.24 in EPS and $882.95 million in revenue, up 16.3% year over year; institutional investors own 88.2% of the stock.

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective raised by Stifel Nicolaus from $230.00 to $275.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 12.89% from the stock's previous close.

Several other brokerages have also commented on VEEV. BNP Paribas Exane restated an "outperform" rating and issued a $285.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Raymond James Financial reiterated an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Mizuho decreased their target price 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. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Piper Sandler reduced their price target on Veeva Systems from $285.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $248.96.

Veeva Systems Stock Performance

NYSE VEEV opened at $243.60 on Monday. The stock has a market cap of $39.57 billion, a P/E ratio of 43.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The stock has a 50 day simple moving average of $189.96 and a two-hundred day simple moving average of $180.54.

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, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million for the quarter, compared to analysts' expectations of $857.73 million. During the same period in the previous year, the firm earned $1.97 earnings per share. The business's revenue 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. Sell-side analysts predict that Veeva Systems will post 6.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VEEV. Williams Jones Wealth Management LLC. increased its holdings in Veeva Systems by 0.4% in the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company's stock valued at $2,806,000 after buying an additional 40 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Veeva Systems by 0.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company's stock valued at $1,982,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Veeva Systems by 8.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company's stock valued at $214,000 after acquiring an additional 54 shares in the last quarter. Main Management ETF Advisors LLC lifted its stake in Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company's stock worth $1,224,000 after purchasing an additional 56 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in Veeva Systems by 17.1% in the fourth quarter. Root Financial Partners LLC now owns 383 shares of the technology company's stock worth $85,000 after purchasing an additional 56 shares during the period. 88.20% of the stock is owned by hedge funds and other 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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