Stifel Nicolaus Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price target boosted by equities researchers at Stifel Nicolaus from $230.00 to $275.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 12.89% from the stock’s current price.

Other research analysts have also issued research reports about the company. Barclays reduced their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Canaccord Genuity Group cut their target price on Veeva Systems from $235.00 to $220.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Weiss Ratings raised Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.96.

Veeva Systems Stock Down 0.1%

Shares of NYSE:VEEV opened at $243.60 on Monday. The company’s 50-day moving average price is $189.96 and its 200 day moving average price is $180.54. The company has a market cap of $39.57 billion, a PE ratio of 43.42, a P/E/G ratio of 1.05 and a beta of 0.92. Veeva Systems has a fifty-two week low of $148.05 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for 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 was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $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, equities analysts anticipate that Veeva Systems will post 6.65 EPS for the current year.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently bought and sold shares of the stock. SHP Wealth Management acquired a new position in Veeva Systems during the fourth quarter valued at approximately $26,000. Activest Wealth Management grew its holdings in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 127 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Veeva Systems during the second quarter valued at approximately $29,000. MV Capital Management Inc. bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $30,000. Finally, Reflection Asset Management bought a new stake in Veeva Systems in the fourth quarter valued at $32,000. 88.20% of the stock is currently owned by institutional investors.

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.