Veeva Systems (NYSE:VEEV) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a research note released on Tuesday. The brokerage issued a sell rating and a $215.00 target price on the technology company’s stock.

VEEV has been the topic of several other research reports. Jefferies Financial Group restated a “buy” rating and set a $330.00 target price on shares of Veeva Systems in a report on Monday, November 24th. Robert W. Baird upped their price target on shares of Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Finally, BTIG Research reissued a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $308.04.

Veeva Systems Trading Down 2.0%

Shares of Veeva Systems stock opened at $228.47 on Tuesday. The stock has a market capitalization of $37.56 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.72 and a beta of 1.07. The firm’s 50-day moving average price is $244.46 and its two-hundred day moving average price is $270.25. Veeva Systems has a 1-year low of $201.54 and a 1-year high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The company had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. Veeva Systems’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. As a group, equities research analysts predict that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently made changes to their positions in the stock. ASR Vermogensbeheer N.V. increased its holdings in Veeva Systems by 64.2% in the second quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock valued at $1,488,000 after purchasing an additional 2,020 shares during the period. Stevens Capital Management LP bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $306,000. Orser Capital Management LLC acquired a new stake in shares of Veeva Systems in the third quarter valued at about $1,631,000. FORA Capital LLC bought a new position in shares of Veeva Systems during the second quarter worth about $4,420,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Veeva Systems by 15.7% in the second quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after acquiring an additional 1,735 shares during the period. 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.