Analysts Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $230.65

by · The Markets Daily

Veeva Systems Inc. (NYSE:VEEV – Get Free Report) has earned an average rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $232.96.

VEEV has been the topic of several research analyst reports. TD Cowen boosted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Robert W. Baird boosted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. UBS Group boosted their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Piper Sandler boosted their price objective on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 29th.

Read Our Latest Analysis on VEEV

Veeva Systems Stock Up 1.2 %

NYSE:VEEV opened at $206.96 on Friday. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market capitalization of $33.51 billion, a P/E ratio of 60.31, a P/E/G ratio of 1.99 and a beta of 0.81. The stock’s fifty day moving average is $204.13 and its two-hundred day moving average is $199.47.

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, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Sell-side analysts anticipate that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

A number of large investors have recently made changes to their positions in the company. Merrion Investment Management Co LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at about $210,000. Patten Group Inc. boosted its position in shares of Veeva Systems by 3.7% in the 3rd quarter. Patten Group Inc. now owns 6,798 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 244 shares during the period. Wedmont Private Capital boosted its position in shares of Veeva Systems by 6.1% in the 3rd quarter. Wedmont Private Capital now owns 2,079 shares of the technology company’s stock valued at $420,000 after purchasing an additional 120 shares during the period. CWM LLC raised its stake in Veeva Systems by 61.3% during the 3rd quarter. CWM LLC now owns 6,770 shares of the technology company’s stock valued at $1,421,000 after acquiring an additional 2,574 shares during the last quarter. Finally, Brookstone Capital Management purchased a new stake in Veeva Systems during the 3rd quarter valued at approximately $203,000. 88.20% of the stock is owned by institutional investors and hedge funds.

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.

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