Veeva Systems (NYSE:VEEV) Price Target Cut to $319.00 by Analysts at Citigroup

Veeva Systems (NYSE:VEEV) had its target price reduced by Citigroup from $349.00 to $319.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $355.00 price target on shares of Veeva Systems in a research report on Friday. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley boosted their price objective on Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a report on Thursday, August 28th. Mizuho increased their target price on Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Canaccord Genuity Group lowered their price objective on shares of Veeva Systems from $300.00 to $280.00 and set a “hold” rating on the stock in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $305.62.

Veeva Systems Trading Down 3.3%

Shares of VEEV stock opened at $236.10 on Monday. Veeva Systems has a twelve month low of $201.54 and a twelve month high of $310.50. The firm has a fifty day simple moving average of $286.95 and a 200-day simple moving average of $279.11. The company has a market capitalization of $38.70 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

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

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 23,773 shares in the company, valued at $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president directly owned 7,868 shares in the company, valued at approximately $2,345,608.16. The trade was a 8.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,665 shares of company stock valued at $7,438,000 in the last 90 days. 10.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently bought and sold shares of VEEV. GPS Wealth Strategies Group LLC raised its holdings in shares of Veeva Systems by 196.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after buying an additional 55 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Veeva Systems in the 3rd quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems in the second quarter worth about $29,000. OLD Second National Bank of Aurora bought a new position in shares of Veeva Systems in the third quarter worth about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Veeva Systems during the second quarter worth approximately $32,000. Institutional investors and hedge funds 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.