Veeva Systems (NYSE:VEEV) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Veeva Systems (NYSE:VEEV) in a research report report published on Friday,Benzinga reports. Needham & Company LLC currently has a $355.00 price objective on the technology company’s stock.

A number of other brokerages also recently weighed in on VEEV. TD Cowen raised shares of Veeva Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Veeva Systems in a report on Wednesday, October 8th. BMO Capital Markets assumed coverage on Veeva Systems in a research note on Thursday, November 13th. They issued a “market perform” rating and a $300.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Finally, Truist Financial raised their target price on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.84.

Veeva Systems Stock Down 9.8%

Shares of NYSE VEEV traded down $26.52 during trading on Friday, reaching $243.98. The company had a trading volume of 4,902,806 shares, compared to its average volume of 1,306,488. The stock has a market cap of $39.99 billion, a P/E ratio of 50.10, a PEG ratio of 2.22 and a beta of 0.98. The company’s fifty day moving average price is $287.74 and its 200-day moving average price is $278.52. Veeva Systems has a 12 month low of $201.54 and a 12 month high of $310.50.

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

Insider Buying and Selling at Veeva Systems

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $298.12, for a total transaction of $214,646.40. Following the sale, the senior vice president owned 7,868 shares of the company’s stock, valued at $2,345,608.16. This trade represents a 8.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 24,665 shares of company stock valued at $7,438,000. Company insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GPS Wealth Strategies Group LLC boosted its stake in 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 purchasing an additional 55 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems in the third quarter worth approximately $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems in the second quarter valued at approximately $29,000. OLD Second National Bank of Aurora purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Company Profile

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.