Oppenheimer Has Lowered Expectations for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price objective decreased by research analysts at Oppenheimer from $275.00 to $225.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 38.73% from the stock’s current price.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company decreased their price objective on shares of Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Morgan Stanley raised their target price on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Canaccord Genuity Group dropped their target price on shares of Veeva Systems from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Finally, Stifel Nicolaus increased their price target on shares of Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $276.52.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $162.18 on Monday. The firm has a fifty day moving average price of $171.47 and a two-hundred day moving average price of $208.19. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 0.71 and a beta of 0.92. Veeva Systems has a one year low of $148.05 and a one year high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities research analysts expect that Veeva Systems will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently bought and sold shares of VEEV. Vanguard Group Inc. boosted its position in Veeva Systems by 3.1% in the third quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Veeva Systems by 4.1% in the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock worth $1,770,071,000 after buying an additional 235,983 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the last quarter. State Street Corp increased its stake in Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after acquiring an additional 85,695 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Veeva Systems by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company’s stock valued at $1,035,622,000 after purchasing an additional 159,984 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

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.