Veeva Systems (NYSE:VEEV) Upgraded at Guggenheim

Guggenheim upgraded shares of Veeva Systems (NYSE:VEEV) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Citigroup upped their target price on Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Piper Sandler dropped their price target on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. BMO Capital Markets reduced their price objective 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. Finally, Barclays decreased their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

Veeva Systems Stock Up 3.6%

Shares of Veeva Systems stock opened at $186.06 on Wednesday. The company has a 50 day moving average price of $174.59 and a 200 day moving average price of $181.60. The firm has a market capitalization of $30.22 billion, a P/E ratio of 33.17, a PEG ratio of 0.77 and a beta of 0.94. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for 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 revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous 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. As a group, research analysts anticipate that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VEEV. SHP Wealth Management purchased a new position in shares of Veeva Systems in the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its stake in Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management raised its holdings in Veeva Systems by 3,175.0% in the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after acquiring an additional 127 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new position in Veeva Systems in the 4th quarter worth approximately $30,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems News Roundup

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

Veeva Systems Company Profile

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.