Veeva Systems (VEEV) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Veeva Systems (NASDAQ:VEEV) released its earnings data on Thursday. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02, Stock Ratings News reports. The company had revenue of $75.70 million for the quarter, compared to the consensus estimate of $69.28 million. The company’s quarterly revenue was up 52.6% on a year-over-year basis. Veeva Systems updated its Q3 guidance to $0.08 EPS and its FY15 guidance to $0.30-0.31 EPS.
In other Veeva Systems news, major shareholder Maja Kristin unloaded 25,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $22.30, for a total value of $557,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
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 given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $29.40.
Shares of Veeva Systems (NASDAQ:VEEV) traded down 0.99% during mid-day trading on Thursday, hitting $24.96. 1,506,440 shares of the company’s stock traded hands. Veeva Systems has a 1-year low of $17.11 and a 1-year 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 Inc (NASDAQ:VEEV) which provides industry-specific, cloud-based software solutions for the life sciences industry.
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