Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Oppenheimer Analyst Says

Veeva Systems (NYSE:VEEV) had its price target upped by investment analysts at Oppenheimer from $225.00 to $300.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price indicates a potential upside of 24.13% from the company’s previous close.

Other research analysts have also issued reports about the stock. Stifel Nicolaus raised their price objective on shares of Veeva Systems from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Robert W. Baird lifted their price target on Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Evercore reissued an “outperform” rating and set a $185.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Finally, TD Cowen reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.08.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $2.07 during midday trading on Monday, hitting $241.68. 66,787 shares of the stock traded hands, compared to its average volume of 2,492,284. Veeva Systems has a one year low of $148.05 and a one year high of $310.50. The business has a 50 day moving average price of $189.96 and a two-hundred day moving average price of $180.54. The company has a market cap of $39.26 billion, a PE ratio of 42.96, a P/E/G ratio of 1.05 and a beta of 0.92.

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

Institutional Trading of Veeva Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empire Life Investments Inc. increased its holdings in Veeva Systems by 21.1% during the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after buying an additional 6,453 shares during the last quarter. Czech National Bank purchased a new position in Veeva Systems in the second quarter valued at about $7,584,000. Farther Finance Advisors LLC boosted its stake in Veeva Systems by 217.2% in the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after acquiring an additional 7,169 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after acquiring an additional 137,965 shares during the period. Finally, BNP Paribas grew its position in shares of Veeva Systems by 89.3% during the 4th quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock valued at $4,308,000 after acquiring an additional 9,077 shares during the period. Hedge funds and other institutional investors 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.