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 Price Performance

Shares of VEEV opened at $222.05 on Wednesday. The stock's 50-day moving average is $202.43 and its two-hundred day moving average is $199.29. The stock has a market cap of $34.38 billion, a PE ratio of 87.42, a P/E/G ratio of 4.82 and a beta of 0.73. Veeva Systems has a 12 month low of $152.04 and a 12 month high of $336.52.

Veeva Systems (NYSE:VEEV - Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $505.10 million for the quarter, compared to analysts' expectations of $495.88 million. Veeva Systems had a return on equity of 14.60% and a net margin of 21.43%. The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, research analysts anticipate that Veeva Systems will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their price objective on Veeva Systems from $290.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, July 18th. Guggenheim reaffirmed a "buy" rating and issued a $252.00 price objective on shares of Veeva Systems in a research report on Tuesday, June 21st. JMP Securities lowered their price objective on Veeva Systems from $265.00 to $240.00 and set a "market outperform" rating for the company in a research report on Thursday, June 2nd. Citigroup lifted their price objective on Veeva Systems to $232.00 in a research report on Friday, June 3rd. Finally, Truist Financial lowered their price objective on Veeva Systems from $275.00 to $225.00 and set a "buy" rating for the company in a research 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $247.00.

Insiders Place Their Bets

In related news, CAO Michele O'connor sold 371 shares of the business's stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $189.37, for a total value of $70,256.27. Following the transaction, the chief accounting officer now owns 15,833 shares in the company, valued at $2,998,295.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Timothy S. Cabral sold 5,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 113,114 shares in the company, valued at $22,626,193.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Michele O'connor sold 371 shares of the business's stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $189.37, for a total value of $70,256.27. Following the completion of the transaction, the chief accounting officer now owns 15,833 shares in the company, valued at approximately $2,998,295.21. The disclosure for this sale can be found here. Insiders have sold a total of 15,371 shares of company stock worth $2,963,506 over the last quarter. 13.23% of the stock is owned by corporate insiders.