Veeva Systems Inc (VEEV) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Veeva Systems Inc (NYSE:VEEV) have earned a consensus recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $67.51.
A number of research analysts have weighed in on the company. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a research note on Thursday, February 8th. DA Davidson assumed coverage on Veeva Systems in a research note on Friday, February 2nd. They set a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research lowered Veeva Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 30th. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research note on Wednesday, December 6th.
In related news, EVP Alan Mateo sold 532 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $58.11, for a total value of $30,914.52. Following the transaction, the executive vice president now directly owns 8,294 shares of the company’s stock, valued at approximately $481,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Sekhri sold 10,971 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $53.83, for a total value of $590,568.93. Following the completion of the transaction, the director now directly owns 27,438 shares in the company, valued at $1,476,987.54. The disclosure for this sale can be found here. Insiders sold a total of 152,017 shares of company stock worth $8,708,375 over the last ninety days. Corporate insiders own 17.50% of the company’s stock.
Shares of Veeva Systems (NYSE VEEV) opened at $56.90 on Wednesday. The company has a market capitalization of $8,040.00, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 5.72 and a beta of 1.66. Veeva Systems has a fifty-two week low of $41.30 and a fifty-two week high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. Veeva Systems’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. research analysts expect that Veeva Systems will post 0.68 earnings per share for the current year.
About Veeva Systems
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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