Deutsche Bank Reiterates Buy Rating for Veeva Systems (VEEV)
Veeva Systems (NASDAQ:VEEV)‘s stock had its “buy” rating reissued by stock analysts at Deutsche Bank in a report issued on Friday. They currently have a $32.00 target price on the stock, up from their previous target price of $30.00. Deutsche Bank’s price objective would suggest a potential upside of 28.21% from the stock’s previous close.
Veeva Systems (NASDAQ:VEEV) traded up 18.51% during mid-day trading on Friday, hitting $29.58. The stock had a trading volume of 5,135,243 shares. 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 $23.56 and a 200-day moving average of $25.01. The company has a market cap of $3.780 billion and a P/E ratio of 149.46.
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. Analysts expect that Veeva Systems will post $0.27 EPS for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $27.00 to $32.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and an average target price of $30.80.
In other Veeva Systems news, major shareholder Maja Kristin sold 25,000 shares of Veeva Systems stock on the open market 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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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