Veeva Systems (NYSE:VEEV – Free Report) had its price target lifted by Citigroup from $190.00 to $273.00 in a research note published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.
A number of other research firms have also recently issued reports on VEEV. Jefferies Financial Group reissued a “buy” rating and set a $295.00 price objective on shares of Veeva Systems in a research report on Thursday. Mizuho boosted their target price on Veeva Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. The Goldman Sachs Group cut their price target on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a report on Thursday, June 4th. Finally, Needham & Company LLC raised their price objective on Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.46.
Read Our Latest Report on VEEV
Veeva Systems Stock Up 0.2%
Veeva Systems (NYSE:VEEV – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. During the same period last year, the company posted $1.99 earnings per share. The business’s quarterly revenue 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. Sell-side analysts expect that Veeva Systems will post 6.65 EPS for the current fiscal year.
Insider Buying and Selling at Veeva Systems
In other news, insider Thomas D. Schwenger sold 36,000 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Veeva Systems
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in 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 valued at $6,990,228,000 after buying an additional 39,152,230 shares during the last quarter. Norges Bank purchased a new position in shares of Veeva Systems in the 4th quarter worth approximately $332,412,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems in the 2nd quarter worth approximately $281,351,000. Fundsmith LLP bought a new position in shares of Veeva Systems in the second quarter valued at approximately $144,955,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock valued at $160,427,000 after acquiring an additional 611,868 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.
Key Veeva Systems News
Here are the key news stories impacting Veeva Systems this week:
- Positive Sentiment: Beat-and-raise quarter: Veeva reported fiscal Q2 revenue of approximately $928 million, up 17.6% year over year and above expectations. Non-GAAP EPS of $2.35 also exceeded consensus, while next-quarter revenue guidance of about $933.5 million was roughly 1.5% ahead of estimates. VEEV Q2 Deep Dive: AI Expansion, CRM Wins, and Accelerating R&D Cloud Adoption
- Positive Sentiment: AI and CRM momentum: Management highlighted demand for its Falcon AI platform, record Vault CRM execution and increasing adoption of its Commercial Cloud products. The company expects its first Falcon customers to go live this year, supporting the growth outlook. VEEV Q2 Earnings Call Centers on Falcon and CRM Momentum
- Positive Sentiment: Shareholder returns and financial strength: Veeva’s $2 billion buyback—of which about $1.4 billion reportedly remains—may offset stock-based compensation and support EPS growth. Approximately $1.8 billion in cash, $5.4 billion in short-term investments and minimal debt provide balance-sheet flexibility.
- Positive Sentiment: Higher bullish targets: Barclays raised its target to $315, RBC to $325, Guggenheim to $310, Truist to $305 and Robert W. Baird to $300, with buy, outperform or overweight ratings. Analyst price-target updates
- Neutral Sentiment: Valuation is demanding: VEEV trades near $277, with a reported P/E ratio of 45.6, leaving less room for execution mistakes after the recent rally.
- Negative Sentiment: Analyst caution and consolidation: Citi maintained a neutral rating with a $273 target, while BMO, Canaccord and Morgan Stanley targets were below the current price. The latest weakness may therefore represent consolidation as investors digest strong results and reassess the stock’s premium valuation.
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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