Veeva Systems - VEEV Stock Forecast, Price & News

Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety. It also provides professional and support services in the areas of implementation and deployment planning and project management; requirements analysis, solution design, and configuration; systems environment management and deployment services; services focused on advancing or transforming business and operating processes related to Veeva solutions; technical consulting services related to data migration and systems integrations; training on its solutions; and ongoing managed services that include outsourced systems administration. The company was formerly known as Verticals onDemand, Inc. and changed its name to Veeva Systems Inc. in April 2009. Veeva Systems Inc. was incorporated in 2007 and is headquartered in Pleasanton, California.

Veeva Systems Stock Down 0.1 %

Shares of NYSE:VEEV traded down $0.30 during trading on Tuesday, hitting $228.66. The stock had a trading volume of 349 shares, compared to its average volume of 824,843. Veeva Systems has a 12 month low of $152.04 and a 12 month high of $336.52. The company has a market capitalization of $35.41 billion, a PE ratio of 90.14, a PEG ratio of 4.78 and a beta of 0.73. The firm's fifty day moving average is $205.82 and its 200 day moving average is $199.30.

Veeva Systems (NYSE:VEEV - Get Rating) last announced its earnings results on Wednesday, June 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Veeva Systems had a return on equity of 14.60% and a net margin of 21.43%. The firm had revenue of $505.10 million during the quarter, compared to analyst estimates of $495.88 million. During the same quarter in the prior year, the company earned $0.67 EPS. The business's revenue was up 16.5% compared to the same quarter last year. Equities research analysts expect that Veeva Systems will post 2.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VEEV has been the subject of several analyst reports. Morgan Stanley increased their target price on Veeva Systems from $175.00 to $190.00 and gave the company an "equal weight" rating in a report on Tuesday. Oppenheimer restated an "initiates" rating on shares of Veeva Systems in a report on Wednesday, July 27th. Raymond James dropped their target price on Veeva Systems from $260.00 to $205.00 in a report on Thursday, June 2nd. The Goldman Sachs Group initiated coverage on Veeva Systems in a report on Thursday, June 23rd. They set a "buy" rating and a $253.00 target price for the company. Finally, Truist Financial dropped their target price on Veeva Systems from $275.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, June 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $242.26.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 5,000 shares of Veeva Systems stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $200.03, for a total value of $1,000,150.00. Following the completion of the sale, the director now owns 113,114 shares of the company's stock, valued at approximately $22,626,193.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $189.31, for a total value of $1,893,100.00. Following the transaction, the director now directly owns 118,114 shares in the company, valued at approximately $22,360,161.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 5,000 shares of the firm's stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $200.03, for a total value of $1,000,150.00. Following the completion of the transaction, the director now owns 113,114 shares in the company, valued at $22,626,193.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,371 shares of company stock valued at $2,963,506. Corporate insiders own 13.23% of the company's stock.