Veeva Systems Receives Buy Rating from Canaccord Genuity (VEEV)
Veeva Systems (NASDAQ:VEEV)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a note issued to investors on Friday. They currently have a $30.00 price objective on the stock, down from their previous price objective of $48.00. Canaccord Genuity’s target price would indicate a potential upside of 36.12% from the stock’s previous close.
Veeva Systems (NASDAQ:VEEV) opened at 22.04 on Friday. Veeva Systems has a 52-week low of $17.11 and a 52-week high of $49.00. The stock’s 50-day moving average is $20.31 and its 200-day moving average is $30.15. The company has a market cap of $2.751 billion and a P/E ratio of 145.93.
Veeva Systems (NASDAQ:VEEV) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $63.40 million. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. Analysts expect that Veeva Systems will post $0.24 EPS for the current fiscal year.
A number of other firms have also recently commented on VEEV. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Veeva Systems in a research note on Wednesday. They set an “overweight” rating and a $27.00 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, April 2nd. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Deutsche Bank raised their price target on shares of Veeva Systems from $42.00 to $44.00 in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.00.
Veeva Systems Inc (NASDAQ:VEEV) which provides industry-specific, cloud-based software solutions for the life sciences industry.
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