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

Equities researchers at The Goldman Sachs Group started coverage on shares of Veeva Systems (NYSE:VEEV) in a note issued to investors 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 stock’s current price.

Other research analysts also recently issued reports about the company. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of Veeva Systems in a research note on Friday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $355.00 price objective on shares of Veeva Systems in a research note on Friday, November 21st. Robert W. Baird boosted their price objective on shares of Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Finally, Barclays dropped their target price on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Nineteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.04.

Veeva Systems Price Performance

NYSE:VEEV traded down $2.69 during trading hours on Tuesday, reaching $230.52. 166,590 shares of the stock were exchanged, compared to its average volume of 1,532,776. Veeva Systems has a twelve month low of $201.54 and a twelve month high of $310.50. The firm has a 50 day moving average of $245.77 and a 200 day moving average of $270.63. The stock has a market cap of $37.89 billion, a PE ratio of 44.78, a PEG ratio of 1.77 and a beta of 1.07.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.09. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The business had revenue of $0.81 million during the quarter, compared to the consensus estimate of $792.37 million. During the same period last year, the business posted $1.75 EPS. Veeva Systems’s revenue was up 16.0% on a year-over-year basis. 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. Equities research analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $422,241,000. Norges Bank purchased a new position in Veeva Systems during the 2nd quarter valued at $384,265,000. Durable Capital Partners LP purchased a new stake in Veeva Systems in the second quarter worth $281,351,000. AQR Capital Management LLC grew its holdings in shares of Veeva Systems by 111.7% in the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock worth $526,508,000 after purchasing an additional 969,905 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Veeva Systems by 1,039.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after buying an additional 925,896 shares during the period. 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.