Veeva Systems (NYSE:VEEV) Earns Overweight Rating from Analysts at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a research note issued on Monday. The brokerage set an “overweight” rating and a $295.00 price target on the technology company’s stock. Piper Sandler’s price target would indicate a potential upside of 18.59% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Barclays increased their target price on shares of Veeva Systems from $235.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Guggenheim lifted their price target on shares of Veeva Systems from $232.00 to $276.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a research note on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Evercore restated an “outperform” rating and set a $185.00 target price on shares of Veeva Systems in a report on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.08.

Veeva Systems Price Performance

VEEV stock traded up $0.85 during trading on Monday, reaching $248.75. 163,498 shares of the stock traded hands, compared to its average volume of 2,456,708. The business’s 50 day moving average price is $198.19 and its 200-day moving average price is $181.80. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $310.50. The firm has a market capitalization of $40.41 billion, a PE ratio of 44.24, a P/E/G ratio of 1.07 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.97 EPS. 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, equities research analysts predict that Veeva Systems will post 6.65 earnings per share for the current year.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at $4,866,723.27. This represents a 64.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. SHP Wealth Management purchased a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. Compass Financial Management LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at approximately $27,000. Activest Wealth Management boosted its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Veeva Systems during the second quarter worth approximately $29,000. Finally, Field & Main Bank bought a new stake in shares of Veeva Systems in the second quarter worth $29,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.