Several brokerages have updated their recommendations and price targets on shares of Veeva Systems (NYSE: VEEV) in the last few weeks:
- 2/8/2018 – Veeva Systems was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $61.05 price target on the stock.
- 2/2/2018 – Veeva Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last year, Veeva Systems outperformed the broader industry on the back of its splendid earnings surprise history. However, high expenses on the operational side are causing a drag on the company’s margins, partially dampening its revenues. Furthermore, intensifying competition and a saturating life sciences market are key concerns. The stock looks much overvalued at the moment. Further, volatility in foreign currency exchange rate is a headwind. On a favorable note, the company has delivered positive earnings surprise in all the past four quarters. We are encouraged by Veeva Systems’ consistent efforts in product innovation and launches through R&D. Growing global demand for cloud-based and vault applications also boost opportunities for the company. We are also encouraged to note the latest strategic partnerships of the company.”
- 2/2/2018 – Veeva Systems is now covered by analysts at DA Davidson. They set a “buy” rating and a $75.00 price target on the stock.
- 1/30/2018 – Veeva Systems was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating.
Veeva Systems Inc (NYSE VEEV) traded up $1.25 during trading hours on Monday, reaching $56.72. The company had a trading volume of 1,040,000 shares, compared to its average volume of 993,690. The company has a market capitalization of $8,020.00, a price-to-earnings ratio of 62.33, a price-to-earnings-growth ratio of 5.72 and a beta of 1.66. Veeva Systems Inc has a 12 month low of $41.30 and a 12 month high of $68.07.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The company had revenue of $176.10 million during the quarter, compared to analyst estimates of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. research analysts anticipate that Veeva Systems Inc will post 0.68 EPS for the current year.
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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