Veeva Systems' (VEEV) "Buy" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated its “Buy” rating for Veeva Systems and set a price target of $355.00, indicating a potential upside of 21.28% from the stock's previous close.
• Veeva Systems recently reported $1.26 EPS, missing estimates of $1.90, but achieved revenue of $789.08 million, surpassing expectations and marking a 16.7% year-over-year increase.
• Insider trading activity showed notable sales, with significant shares sold by SVP Jonathan Faddis and insider Thomas D. Schwenger, reflecting a decrease in their positions in the company.

Veeva Systems (NYSE:VEEV - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $355.00 price target on the technology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 21.28% from the stock's previous close.

VEEV has been the topic of a number of other reports. Barclays lifted their target price on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Mizuho upped their price target on Veeva Systems from $295.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a report on Thursday, August 28th. Morgan Stanley upped their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research report on Thursday, August 28th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $307.58.

Veeva Systems Stock Up 1.9%

Shares of NYSE VEEV opened at $292.71 on Friday. The company's fifty day simple moving average is $283.41 and its 200 day simple moving average is $266.34. The firm has a market cap of $47.98 billion, a PE ratio of 60.10, a P/E/G ratio of 2.22 and a beta of 0.98. Veeva Systems has a 12-month low of $201.54 and a 12-month high of $310.50.

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

Insider Activity

In other news, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $298.12, for a total transaction of $214,646.40. Following the sale, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. The trade was a 8.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,665 shares of company stock valued at $7,438,000. Corporate insiders own 10.30% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Abound Financial LLC purchased a new position in Veeva Systems during the first quarter valued at $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems in the first quarter worth about $26,000. Trust Co. of Toledo NA OH purchased a new stake in Veeva Systems during the second quarter valued at $29,000. Golden State Wealth Management LLC raised its position in Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Veeva Systems in the 1st quarter worth about $32,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Company Profile

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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