Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $247.0833.

A number of analysts have recently commented on the company. Piper Sandler dropped their price objective on Veeva Systems from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Raymond James Financial reissued an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Citigroup upped their price target on Veeva Systems from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, TD Cowen restated a “buy” rating on shares of Veeva Systems in a report on Thursday, June 4th.

Institutional Trading of Veeva Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Veeva Systems during the fourth quarter worth approximately $332,412,000. Durable Capital Partners LP acquired a new position in shares of Veeva Systems during the 2nd quarter valued at $281,351,000. Arrowstreet Capital Limited Partnership boosted its position in Veeva Systems by 203.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after purchasing an additional 611,868 shares during the period. AQR Capital Management LLC boosted its position in Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after purchasing an additional 574,164 shares during the period. Finally, Swedbank AB boosted its position in Veeva Systems by 43.5% during the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company’s stock worth $288,983,000 after purchasing an additional 498,971 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $243.60 on Tuesday. The company’s 50 day simple moving average is $189.96 and its 200 day simple moving average is $180.84. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The stock has a market capitalization 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 (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate 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 net margin of 28.37% and a return on equity of 13.72%. Veeva Systems’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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, sell-side analysts expect that Veeva Systems will post 6.65 earnings per share for the current fiscal year.

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.