Veeva Systems (NYSE:VEEV) Price Target Cut to $245.00

by · The Cerbat Gem

Veeva Systems (NYSE:VEEV – Free Report) had its price objective cut by Robert W. Baird from $251.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Citigroup upped their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Piper Sandler lifted their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $232.87.

Read Our Latest Analysis on Veeva Systems

Veeva Systems Stock Up 0.0 %

Shares of VEEV stock opened at $212.27 on Monday. The company has a 50 day moving average price of $211.44 and a 200-day moving average price of $198.73. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The firm has a market capitalization of $34.37 billion, a PE ratio of 56.61, a P/E/G ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV – Get Free Report) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Analysts anticipate that Veeva Systems will post 4.21 earnings per share for the current year.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several hedge funds have recently made changes to their positions in VEEV. Advisors Asset Management Inc. bought a new stake in Veeva Systems during the first quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $26,000. Larson Financial Group LLC raised its holdings in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the period. Blue Trust Inc. raised its holdings in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. Finally, DT Investment Partners LLC purchased a new position in Veeva Systems during the second quarter worth $35,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

About Veeva Systems

(Get Free Report)

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.

Featured Articles