Veeva Systems (NYSE:VEEV) Issues Q3 Earnings Guidance

by · The Cerbat Gem

Veeva Systems (NYSE:VEEV – Get Free Report) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $1.57-1.58 for the period, compared to the consensus earnings per share estimate of $1.58. The company issued revenue guidance of $682-685 million, compared to the consensus revenue estimate of $684.10 million.

Analyst Ratings Changes

VEEV has been the subject of a number of research reports. UBS Group increased their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Robert W. Baird lowered their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Citigroup raised their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, Barclays lifted their price objective on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $237.00.

Read Our Latest Stock Analysis on VEEV

Veeva Systems Trading Up 5.2 %

NYSE VEEV opened at $235.00 on Friday. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. Veeva Systems has a 1-year low of $162.72 and a 1-year high of $240.68. The company has a 50 day moving average of $213.98 and a 200-day moving average of $199.75.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, analysts forecast that Veeva Systems will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Company Profile

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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.

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