Veeva Systems PT Raised to $33.00 (VEEV)
Investment analysts at Canaccord Genuity boosted their target price on shares of Veeva Systems (NASDAQ:VEEV) from $30.00 to $33.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target indicates a potential upside of 32.21% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Veeva Systems in a research note on Friday. They now have a $32.00 price target on the stock, up previously from $30.00. 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 given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $31.40.
Shares of Veeva Systems (NASDAQ:VEEV) traded up 18.47% on Friday, hitting $29.5699. 5,832,460 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 $23.56 and a 200-day moving average of $25.01. The company has a market cap of $3.779 billion and a price-to-earnings ratio of 149.46.
Veeva Systems (NASDAQ:VEEV) last posted its quarterly earnings results 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.
In other Veeva Systems news, major shareholder Maja Kristin sold 25,000 shares of Veeva Systems stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at 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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