BTIG Research Reiterates “Buy” Rating for Veeva Systems (NYSE:VEEV)

Veeva Systems (NYSE:VEEV)‘s stock had its “buy” rating restated by BTIG Research in a report released on Friday,Benzinga reports. They currently have a $340.00 price objective on the technology company’s stock. BTIG Research’s price objective would indicate a potential upside of 39.36% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on VEEV. Barclays lifted their target price on Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Veeva Systems in a research report on Wednesday, October 8th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial boosted their price objective on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Finally, Evercore ISI raised their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a report on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.84.

Veeva Systems Price Performance

NYSE VEEV opened at $243.98 on Friday. The company’s 50 day simple moving average is $287.74 and its 200 day simple moving average is $278.84. Veeva Systems has a 12 month low of $201.54 and a 12 month high of $310.50. The company has a market capitalization of $39.99 billion, a P/E ratio of 50.10, a PEG ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $811.24 million during the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. On average, analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $298.12, for a total value of $214,646.40. Following the transaction, the senior vice president directly owned 7,868 shares in the company, valued at approximately $2,345,608.16. This trade represents a 8.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,665 shares of company stock valued at $7,438,000. Corporate insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC grew its holdings in shares of Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after acquiring an additional 55 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems during the third quarter worth $28,000. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems during the second quarter valued at $29,000. OLD Second National Bank of Aurora purchased a new position in Veeva Systems in the third quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in Veeva Systems in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.