Veeva Systems Inc. (NYSE:VEEV) Stock Has Average Price Target of $287.79 According to Brokerages

Veeva Systems Inc. (NYSE:VEEV) has earned an average rating of “Moderate Buy” from the twenty-eight research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nineteen have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $289.88.

VEEV has been the subject of a number of research reports. Barclays increased their price objective on Veeva Systems from $315.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Stifel Nicolaus set a $300.00 price target on shares of Veeva Systems in a research note on Thursday, August 27th. Oppenheimer reiterated an “outperform” rating and issued a $325.00 price target on shares of Veeva Systems in a research note on Thursday, October 15th. Weiss Ratings raised shares of Veeva Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Truist Financial boosted their price objective on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th.

Veeva Systems Trading Down 1.6%

Veeva Systems stock opened at $313.23 on Friday. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $325.99. The firm has a 50-day moving average of $280.05 and a 200-day moving average of $208.66.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. During the same quarter in the prior year, the firm earned $1.99 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, analysts expect that Veeva Systems will post 6.70 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director owned 3,242 shares in the company, valued at $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 36,000 shares of the 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 sale, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. This trade represents a 64.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,789 shares of company stock worth $14,913,889 in the last 90 days. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VEEV. BOKF NA increased its position in shares of Veeva Systems by 1.0% during the third quarter. BOKF NA now owns 6,309 shares of the technology company’s stock valued at $1,801,000 after acquiring an additional 63 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in Veeva Systems by 364.0% in the 3rd quarter. Motley Fool Asset Management LLC now owns 11,220 shares of the technology company’s stock valued at $3,203,000 after acquiring an additional 8,802 shares in the last quarter. North Dakota State Investment Board boosted its stake in Veeva Systems by 29.6% during the 3rd quarter. North Dakota State Investment Board now owns 5,747 shares of the technology company’s stock valued at $1,640,000 after purchasing an additional 1,312 shares during the last quarter. VestGen Advisors LLC purchased a new stake in Veeva Systems during the 3rd quarter valued at $222,000. Finally, SYM FINANCIAL Corp boosted its stake in Veeva Systems by 7.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 2,354 shares of the technology company’s stock valued at $672,000 after purchasing an additional 170 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.