Veeva Systems (NYSE:VEEV) Coverage Initiated at Guggenheim

Analysts at Guggenheim assumed coverage on shares of Veeva Systems (NYSE:VEEV) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $232.00 price target on the technology company’s stock. Guggenheim’s price target points to a potential upside of 24.69% from the company’s previous close.

Several other equities research analysts also recently issued reports on VEEV. The Goldman Sachs Group lowered their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings raised Veeva Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Wells Fargo & Company increased their target price on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Mizuho lowered their target price on Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Up 3.6%

NYSE:VEEV opened at $186.06 on Thursday. The company’s 50 day moving average is $174.59 and its 200-day moving average is $181.60. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 0.77 and a beta of 0.94.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during 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%. Veeva Systems’s quarterly 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 EPS. 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 predict that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $368,000. Tema ETFs LLC bought a new position in Veeva Systems in the second quarter worth $590,000. E. Ohman J or Asset Management AB lifted its position in Veeva Systems by 2.4% in the second quarter. E. Ohman J or Asset Management AB now owns 153,855 shares of the technology company’s stock worth $27,305,000 after purchasing an additional 3,631 shares during the period. Focus Financial Network Inc. acquired a new stake in Veeva Systems during the second quarter worth $272,000. Finally, HF Advisory Group LLC boosted its stake in Veeva Systems by 22.8% during the second quarter. HF Advisory Group LLC now owns 3,354 shares of the technology company’s stock worth $595,000 after buying an additional 623 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

More Veeva Systems News

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.