Wall Street analysts predict that Veeva Systems Inc (NYSE:VEEV) will post sales of $189.17 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $188.37 million and the highest estimate coming in at $192.12 million. Veeva Systems reported sales of $157.92 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.8%. The firm is scheduled to report its next earnings results on Thursday, May 24th.
According to Zacks, analysts expect that Veeva Systems will report full-year sales of $189.17 million for the current financial year, with estimates ranging from $817.12 million to $824.15 million. For the next year, analysts expect that the firm will post sales of $961.06 million per share, with estimates ranging from $941.45 million to $971.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Veeva Systems.
Several equities analysts have recently issued reports on VEEV shares. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Wednesday, February 21st. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price objective for the company in a report on Thursday, February 8th. Finally, Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $72.23.
Large investors have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $129,000. American International Group Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $142,000. Northwestern Mutual Wealth Management Co. increased its stake in Veeva Systems by 154.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after buying an additional 1,927 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new stake in Veeva Systems during the 3rd quarter worth approximately $204,000. Finally, HL Financial Services LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $210,000. Institutional investors own 73.09% of the company’s stock.
VEEV stock opened at $74.30 on Friday. The stock has a market capitalization of $10,784.47, a PE ratio of 79.89, a PEG ratio of 4.59 and a beta of 1.46. Veeva Systems has a fifty-two week low of $48.56 and a fifty-two week high of $78.28.
WARNING: This article was posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/3295064/veeva-systems-inc-veev-expected-to-post-quarterly-sales-of-189-17-million.html.
About Veeva Systems
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.