Veeva Systems Inc (NYSE:VEEV) hit a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $72.00 to $76.00. Morgan Stanley currently has an overweight rating on the stock. Veeva Systems traded as high as $69.30 and last traded at $69.55, with a volume of 2667842 shares. The stock had previously closed at $62.07.
VEEV has been the topic of several other research reports. Canaccord Genuity upped their price target on Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price target on Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson assumed coverage on Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price target on the stock. Vetr upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a report on Thursday, February 8th. Finally, Zacks Investment Research downgraded Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $68.77.
In other news, Director Paul J. Sekhri sold 4,622 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.00, for a total value of $300,430.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Frederic Lequient sold 2,875 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $57.32, for a total value of $164,795.00. Following the completion of the transaction, the senior vice president now owns 3,399 shares in the company, valued at approximately $194,830.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,039 shares of company stock worth $9,802,533. Company insiders own 19.17% of the company’s stock.
The firm has a market capitalization of $9,890.00, a PE ratio of 75.22, a price-to-earnings-growth ratio of 6.40 and a beta of 1.66.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. Veeva Systems had a return on equity of 12.30% and a net margin of 20.71%. The company had revenue of $176.10 million during the quarter, compared to analysts’ expectations of $171.99 million. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. research analysts forecast that Veeva Systems Inc will post 0.75 EPS for the current fiscal year.
Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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