The Goldman Sachs Group Initiates Coverage on Veeva Systems (NYSE:VEEV)

Research analysts at The Goldman Sachs Group initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a research report issued on Tuesday. The firm set a “sell” rating and a $215.00 price target on the technology company’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 6.73% from the company’s previous close.

A number of other brokerages have also recently commented on VEEV. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research report on Friday, November 21st. UBS Group lowered their price target on shares of Veeva Systems from $310.00 to $280.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Wall Street Zen lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Veeva Systems in a research report on Monday, November 24th. Finally, TD Cowen raised shares of Veeva Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $297.00 to $380.00 in a research note on Tuesday, October 7th. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.04.

Veeva Systems Price Performance

Shares of NYSE:VEEV traded down $2.69 during trading hours on Tuesday, hitting $230.52. The company’s stock had a trading volume of 166,590 shares, compared to its average volume of 1,532,776. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 44.78, a P/E/G ratio of 1.77 and a beta of 1.07. The firm’s fifty day moving average price is $245.77 and its 200 day moving average price is $270.63. Veeva Systems has a 52 week low of $201.54 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly 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. The business had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business posted $1.75 EPS. 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. On average, equities research analysts predict that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its board has approved a stock buyback program on Monday, January 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in shares of Veeva Systems by 4.7% in the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock valued at $356,000 after acquiring an additional 56 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. lifted its stake in shares of Veeva Systems by 90.2% in the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 20,293 shares of the technology company’s stock valued at $5,844,000 after purchasing an additional 9,623 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new stake in shares of Veeva Systems in the second quarter worth $250,000. Pallas Capital Advisors LLC raised its position in Veeva Systems by 311.8% in the second quarter. Pallas Capital Advisors LLC now owns 10,818 shares of the technology company’s stock valued at $3,115,000 after purchasing an additional 8,191 shares during the period. Finally, Sapient Capital LLC boosted its holdings in Veeva Systems by 2.6% in the 2nd quarter. Sapient Capital LLC now owns 3,244 shares of the technology company’s stock worth $934,000 after acquiring an additional 81 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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.