Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Recommendation of “Moderate Buy” from Analysts
by Amy Steele · The Cerbat GemVeeva Systems Inc. (NYSE:VEEV – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty-five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $283.6957.
A number of analysts have commented on VEEV shares. Piper Sandler cut their price target on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. BTIG Research restated a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a research note on Friday, November 21st. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. TD Cowen cut their target price on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Robert W. Baird lifted their price target on Veeva Systems from $314.00 to $319.00 and gave the stock an “outperform” rating in a report on Friday, November 21st.
Read Our Latest Report on Veeva Systems
Veeva Systems Stock Down 0.8%
VEEV stock opened at $184.16 on Friday. The company has a market cap of $30.27 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 1.23 and a beta of 1.09. Veeva Systems has a twelve month low of $168.13 and a twelve month high of $310.50. The business has a 50 day moving average price of $194.75 and a two-hundred day moving average price of $240.76.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced 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. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The company had revenue of $835.95 million for the quarter, compared to analysts’ expectations of $810.95 million. During the same quarter in the prior year, the business posted $1.74 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, equities research analysts anticipate that Veeva Systems will post 4.35 EPS for the current fiscal year.
Veeva Systems announced that its board has initiated a stock repurchase plan on Monday, January 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Insider Activity at Veeva Systems
In other news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the transaction, the insider directly owned 23,204 shares in the company, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.30% of the company’s stock.
Institutional Investors Weigh In On Veeva Systems
Hedge funds have recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC boosted its position in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the period. SHP Wealth Management bought a new position in shares of Veeva Systems in the fourth quarter valued at about $26,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $27,000. Raiffeisen Bank International AG bought a new stake in shares of Veeva Systems during the 3rd quarter worth about $28,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.
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.