William Blair Reiterates "Outperform" Rating for Veeva Systems (NYSE:VEEV)

Key Points

• William Blair has reaffirmed its "outperform" rating for Veeva Systems, highlighting positive sentiment among analysts after recent price target increases from various firms.
• Despite a revenue increase of 16.7% year-over-year, Veeva Systems reported earnings per share (EPS) of $1.26, which was below analysts' expectations of $1.90.
• Insider trading activity shows a notable decrease in ownership, with two insiders selling shares, resulting in a 19.15% drop in one insider's holdings.

Veeva Systems (NYSE:VEEV - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at William Blair in a report issued on Friday,RTT News reports.

Several other research analysts have also weighed in on VEEV. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a report on Thursday, August 28th. UBS Group increased their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Mizuho increased their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Canaccord Genuity Group increased their price objective 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. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $307.58.

Veeva Systems Price Performance

NYSE:VEEV traded down $8.78 on Friday, reaching $283.96. The stock had a trading volume of 1,582,809 shares, compared to its average volume of 1,311,227. The company has a market cap of $46.54 billion, a price-to-earnings ratio of 58.31, a P/E/G ratio of 2.26 and a beta of 0.98. The firm's fifty day moving average is $283.44 and its two-hundred day moving average is $266.73. 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 released 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). The firm had revenue of $789.08 million during the quarter, compared to analysts' expectations of $768.49 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. Veeva Systems's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, research analysts forecast that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider owned 25,325 shares of the company's stock, valued at $7,765,151.50. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares of the company's stock, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Veeva Systems

Large investors have recently bought and sold shares of the company. Abound Financial LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $26,000. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems in the second quarter valued at approximately $29,000. Golden State Wealth Management LLC grew its position in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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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