Veeva Systems Inc (VEEV) Updates Q3 Earnings Guidance
Veeva Systems Inc (NASDAQ:VEEV) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07, Stock Ratings Network.com reports. The company issued revenue guidance of $78-79 million, compared to the consensus revenue estimate of $71.46 million.Veeva Systems also updated its FY15 guidance to $0.30-0.31 EPS.
Shares of Veeva Systems Inc (NASDAQ:VEEV) traded down 0.99% on Thursday, hitting $24.96. 1,526,196 shares of the company’s stock traded hands. Veeva Systems Inc has a 52-week low of $17.11 and a 52-week high of $49.00. The stock has a 50-day moving average of $23.54 and a 200-day moving average of $25.01. The company has a market cap of $3.190 billion and a P/E ratio of 150.96.
Veeva Systems (NASDAQ:VEEV) last released its earnings data on Thursday, August 28th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.02. The company had revenue of $75.70 million for the quarter, compared to the consensus estimate of $69.28 million. Veeva Systems’s revenue was up 52.6% compared to the same quarter last year. On average, analysts predict that Veeva Systems Inc will post $0.27 earnings per share for the current fiscal year.
VEEV has been the subject of a number of recent research reports. Analysts at Deutsche Bank cut their price target on shares of Veeva Systems from $34.00 to $30.00 in a research note on Friday, May 30th. They now have a buy rating on the stock. On a related note, analysts at Pacific Crest cut their price target on shares of Veeva Systems from $44.00 to $30.00 in a research note on Friday, May 30th. They now have an outperform rating on the stock. Finally, analysts at Morgan Stanley reiterated a buy rating on shares of Veeva Systems in a research note on Friday, May 30th. They now have a $30.00 price target on the stock, down previously from $34.00. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $29.40.
In other Veeva Systems news, major shareholder Maja Kristin unloaded 25,000 shares of the stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $22.30, for a total transaction of $557,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Veeva Systems Inc (NASDAQ:VEEV) which provides industry-specific, cloud-based software solutions for the life sciences industry.
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