UBS Group Cuts Veeva Systems (NYSE:VEEV) Price Target to $190.00

Veeva Systems (NYSE:VEEV) had its price target dropped by UBS Group from $220.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 4.59% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup cut Veeva Systems from a “buy” rating to a “neutral” rating and dropped their target price for the company from $291.00 to $176.00 in a research report on Friday, April 10th. Oppenheimer reduced their price target on Veeva Systems from $275.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Stifel Nicolaus set a $230.00 price target on Veeva Systems in a research report on Thursday. Finally, Barclays dropped their price objective on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.09.

Veeva Systems Price Performance

Shares of VEEV stock opened at $181.66 on Thursday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $310.50. The stock’s 50-day moving average is $166.29 and its 200 day moving average is $196.71. The company has a market cap of $29.67 billion, a P/E ratio of 33.48, a PEG ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business had revenue of $882.95 million during the quarter, compared to analyst estimates of $857.73 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. 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. On average, analysts anticipate that Veeva Systems will post 6.45 EPS for the current year.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its stake in shares of Veeva Systems by 5.3% in the first quarter. NewEdge Advisors LLC now owns 9,340 shares of the technology company’s stock valued at $1,641,000 after purchasing an additional 466 shares during the period. Caerus Investment Advisors LLC acquired a new stake in Veeva Systems in the 1st quarter worth about $334,000. Allen Capital Group LLC increased its stake in shares of Veeva Systems by 4.5% during the 1st quarter. Allen Capital Group LLC now owns 17,357 shares of the technology company’s stock valued at $3,049,000 after acquiring an additional 743 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Veeva Systems by 2,994.9% in the first quarter. Glenmede Trust Co. NA now owns 41,348 shares of the technology company’s stock worth $7,263,000 after acquiring an additional 40,012 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Veeva Systems in the first quarter valued at approximately $5,593,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva beat first-quarter estimates, posting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million expected, with sales up 16.3% year over year. The company also said AI-related progress is helping drive the business. Article Title
• Positive Sentiment: Management issued upbeat guidance, including Q2 FY2027 EPS of $2.21 to $2.22 and revenue of $902 million to $905 million, both above Wall Street expectations. FY2027 EPS guidance was also above consensus, reinforcing confidence in continued growth. Article Title
• Positive Sentiment: Several analysts remained constructive after the earnings release: Needham reiterated a buy with a $270 target, BTIG kept a buy and lifted its target to $340, and Robert W. Baird raised its target to $260. Article Title
• Neutral Sentiment: Not all analyst updates were more bullish: Barclays and Piper Sandler both trimmed their price targets to $235, though each still kept an overweight rating, suggesting continued confidence despite slightly reduced expectations. Article Title

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.