Wall Street Zen Upgrades Veeva Systems (NYSE:VEEV) to Buy

Veeva Systems (NYSE:VEEV) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other research analysts also recently commented on VEEV. Guggenheim began coverage on shares of Veeva Systems in a report on Thursday. They issued a “buy” rating and a $232.00 price objective for the company. Weiss Ratings upgraded Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $247.08.

Veeva Systems Stock Performance

Shares of VEEV opened at $186.06 on Friday. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50. The business has a 50-day moving average of $174.59 and a 200 day moving average of $181.60. The firm has a market cap of $30.22 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. As a group, research analysts predict that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Veeva Systems

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 7.0% during the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares in the last quarter. State Street Corp lifted its position in Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock valued at $801,267,000 after purchasing an additional 85,695 shares during the last quarter. Geode Capital Management LLC grew its stake in Veeva Systems by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after buying an additional 23,117 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Veeva Systems by 31.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after buying an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Veeva Systems by 12.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after buying an additional 189,093 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems News Roundup

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

About Veeva Systems

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.