Piper Sandler started coverage on shares of Veeva Systems (NYSE:VEEV – Free Report) in a research note released on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $295.00 price objective on the technology company’s stock.
Several other analysts also recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Barclays boosted their price objective on shares of Veeva Systems from $235.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.08.
Read Our Latest Report on VEEV
Veeva Systems Price Performance
Veeva Systems (NYSE:VEEV – Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. The firm had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. 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, equities analysts expect that Veeva Systems will post 6.65 earnings per share for the current fiscal year.
Insider Buying and Selling at Veeva Systems
In related news, insider Thomas D. Schwenger sold 36,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the transaction, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.60% of the company’s stock.
Institutional Investors Weigh In On Veeva Systems
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Veeva Systems by 16,590.3% in the 2nd quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock worth $6,990,228,000 after purchasing an additional 39,152,230 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the period. State Street Corp increased its position in Veeva Systems by 2.4% during the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares in the last quarter. Geode Capital Management LLC increased its position in Veeva Systems by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after purchasing an additional 23,117 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Veeva Systems by 31.2% in the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after buying an additional 574,164 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Veeva Systems News Summary
Here are the key news stories impacting Veeva Systems this week:
- Positive Sentiment: Veeva reported second-quarter revenue of approximately $928 million, up 17.6% year over year and above the $905.4 million consensus estimate. Subscription revenue rose 16% to $766.8 million. Veeva Announces Fiscal 2027 Second Quarter Results
- Positive Sentiment: Adjusted earnings reached $2.35 per share, exceeding the $2.22 consensus estimate and increasing from $1.99 a year earlier. The earnings and revenue beats were approximately 5.9% and 2.6%, respectively. Veeva Systems Q2 Earnings and Revenues Beat Estimates
- Positive Sentiment: Management issued above-consensus fiscal 2027 guidance, including revenue of about $3.7 billion versus a $3.6 billion estimate and EPS of $9.21 versus an $8.58 estimate. Third-quarter revenue guidance of $932 million-$935 million and EPS guidance of $2.33-$2.34 also topped analyst forecasts.
- Positive Sentiment: Biogen and Regeneron each committed to adopting Veeva Vault CRM globally. The wins reinforce Veeva’s competitive position in life-sciences customer relationship management and may support future subscription growth. Veeva Vault CRM Selected by Regeneron Veeva Vault CRM Selected by Biogen
- Neutral Sentiment: Piper Sandler initiated coverage, while Needham reaffirmed its Buy rating. These actions add analyst visibility but provide limited new information without detailed price targets or estimates.
- Neutral Sentiment: Despite the improving outlook, Veeva trades at a relatively elevated valuation, with a reported price-to-earnings ratio above 43. Future gains may therefore depend on continued execution and strong growth.
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.
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