Veeva Systems (NYSE:VEEV) Earns “Buy” Rating from Needham & Company LLC

Veeva Systems (NYSE:VEEV)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $270.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 8.76% from the stock’s previous close.

Several other analysts also recently weighed in on VEEV. Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Oppenheimer upped their target price on shares of Veeva Systems from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. BMO Capital Markets dropped their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. 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 report on Thursday, June 4th. Finally, Stifel Nicolaus boosted their price objective on Veeva Systems from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.58.

Veeva Systems Trading Up 0.1%

Shares of Veeva Systems stock opened at $248.26 on Monday. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50. The business’s 50 day simple moving average is $198.19 and its 200-day simple moving average is $181.80. The stock has a market capitalization of $40.33 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 1.07 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, beating 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 posted $1.97 earnings per share. The firm’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. Sell-side analysts predict that Veeva Systems will post 6.65 earnings per share for the current year.

Insider Transactions at Veeva Systems

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Williams Jones Wealth Management LLC. raised its holdings in shares of Veeva Systems by 0.4% during the third quarter. Williams Jones Wealth Management LLC. now owns 9,419 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 40 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Veeva Systems by 0.7% in the second quarter. Rafferty Asset Management LLC now owns 6,881 shares of the technology company’s stock worth $1,982,000 after acquiring an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Veeva Systems by 8.1% in the third quarter. Brown Brothers Harriman & Co. now owns 719 shares of the technology company’s stock worth $214,000 after acquiring an additional 54 shares during the last quarter. Main Management ETF Advisors LLC increased its position in shares of Veeva Systems by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 5,481 shares of the technology company’s stock worth $1,224,000 after purchasing an additional 56 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Veeva Systems by 17.1% during the fourth quarter. Root Financial Partners LLC now owns 383 shares of the technology company’s stock worth $85,000 after purchasing an additional 56 shares in the last quarter. 88.20% of the stock is currently owned by 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.