Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Rating of “Moderate Buy” from Analysts

Veeva Systems Inc. (NYSE:VEEV) has earned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $250.9583.

Several analysts recently commented on VEEV shares. BNP Paribas Exane reiterated an “outperform” rating and set a $285.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Canaccord Genuity Group cut their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, June 4th. Barclays cut their price objective on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Finally, Mizuho dropped their price target on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th.

Veeva Systems Stock Down 0.1%

Veeva Systems stock opened at $153.20 on Monday. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The stock has a 50-day moving average price of $163.55 and a 200 day moving average price of $188.87.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the previous year, the company posted $1.97 earnings per share. The company’s revenue was up 16.3% compared to the same quarter last year. 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. Research analysts anticipate that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. This trade represents a 18.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SHP Wealth Management acquired a new position in Veeva Systems in the fourth quarter valued at $26,000. Board of the Pension Protection Fund acquired a new position in Veeva Systems in the fourth quarter valued at $27,000. Raiffeisen Bank International AG acquired a new position in Veeva Systems in the third quarter valued at $28,000. Newbridge Financial Services Group Inc. boosted its holdings in Veeva Systems by 322.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in Veeva Systems by 3,175.0% in the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

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.