Veeva Systems (NYSE:VEEV) Price Target Raised to $275.00

Veeva Systems (NYSE:VEEV) had its price target upped by Barclays from $235.00 to $275.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial reiterated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Guggenheim began coverage on shares of Veeva Systems in a report on Thursday, July 23rd. They issued a “buy” rating and a $232.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $275.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Piper Sandler dropped their target price on shares of Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.58.

Veeva Systems Stock Down 0.2%

Shares of VEEV opened at $250.44 on Tuesday. The stock’s fifty day simple moving average is $196.42 and its 200-day simple moving average is $181.48. The firm has a market capitalization of $40.68 billion, a PE ratio of 44.64, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92. Veeva Systems has a 12-month low of $148.05 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.72% and a net margin of 28.37%.The company’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the company 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. Analysts anticipate that Veeva Systems will post 6.65 EPS for the current year.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company’s stock, valued at $4,866,723.27. This represents a 64.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Investors Research Corp bought a new stake in Veeva Systems in the second quarter valued at approximately $368,000. Proficio Capital Partners LLC bought a new position in shares of Veeva Systems during the second quarter worth $258,000. Nwam LLC boosted its position in shares of Veeva Systems by 16.3% during the second quarter. Nwam LLC now owns 16,385 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 2,301 shares in the last quarter. Fundsmith LLP bought a new position in shares of Veeva Systems during the second quarter worth $144,955,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $284,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.