Morgan Stanley Upgrades Veeva Systems (NYSE:VEEV) to Equal Weight

Veeva Systems (NYSE:VEEV) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $205.00 price target on the technology company’s stock, down from their prior price target of $222.00. Morgan Stanley’s price target points to a potential upside of 17.53% from the stock’s current price.

A number of other research analysts have also issued reports on VEEV. Robert W. Baird boosted their target price on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Jefferies Financial Group reiterated a “buy” rating and set a $330.00 price objective on shares of Veeva Systems in a research report on Monday, November 24th. Wells Fargo & Company lowered their target price on Veeva Systems from $341.00 to $333.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Canaccord Genuity Group reissued a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.33.

Veeva Systems Price Performance

NYSE:VEEV opened at $174.42 on Tuesday. The firm has a market capitalization of $28.67 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.21 and a beta of 1.08. The business has a 50 day simple moving average of $214.85 and a 200 day simple moving average of $256.58. Veeva Systems has a 12-month low of $168.13 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The company had revenue of $0.81 million for the quarter, compared to analysts’ expectations of $792.37 million. During the same period last year, the business posted $1.75 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. Research analysts anticipate that Veeva Systems will post 4.35 EPS for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a share repurchase program on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in Veeva Systems by 196.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the period. Raiffeisen Bank International AG acquired a new position in Veeva Systems during the third quarter valued at $28,000. OLD Second National Bank of Aurora acquired a new stake in Veeva Systems during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in Veeva Systems during the 2nd quarter valued at about $32,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $27,000. 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.