Veeva Systems Inc. (NYSE:VEEV) Receives $247.74 Average Target Price from Analysts

Veeva Systems Inc. (NYSE:VEEV) has received an average rating of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $247.7391.

A number of research analysts recently weighed in on VEEV shares. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. BMO Capital Markets dropped their price target on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. TD Cowen restated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th. UBS Group reduced their price objective on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, BNP Paribas Exane reiterated an “outperform” rating and set a $285.00 target price on shares of Veeva Systems in a report on Thursday, June 4th.

Veeva Systems Stock Performance

VEEV opened at $195.62 on Friday. The company’s 50 day simple moving average is $171.66 and its 200 day simple moving average is $182.55. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market capitalization of $31.78 billion, a PE ratio of 34.87, a P/E/G ratio of 0.84 and a beta of 0.94.

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

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Hedge funds have recently made changes to their positions in the business. Sivia Capital Partners LLC boosted its position in shares of Veeva Systems by 225.9% in the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after buying an additional 2,164 shares during the period. Bank of Nova Scotia lifted its position in Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 1,806 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after acquiring an additional 2,272 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC grew its position in Veeva Systems by 5.3% in the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after acquiring an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.