Canaccord Genuity Group Lowers Veeva Systems (NYSE:VEEV) Price Target to $280.00

Veeva Systems (NYSE:VEEV) had its price target decreased by equities research analysts at Canaccord Genuity Group from $300.00 to $280.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 16.18% from the stock’s previous close.

Several other research firms have also weighed in on VEEV. TD Cowen raised shares of Veeva Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $297.00 to $380.00 in a report on Tuesday, October 7th. Citigroup raised their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Truist Financial upped their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Piper Sandler raised their target price on Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $290.00 to $330.00 in a report on Monday, September 8th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $305.84.

Veeva Systems Price Performance

VEEV traded down $29.49 during trading on Friday, reaching $241.01. 2,944,327 shares of the company’s stock were exchanged, compared to its average volume of 1,297,234. Veeva Systems has a 1 year low of $201.54 and a 1 year high of $310.50. The company’s fifty day simple moving average is $288.39 and its 200-day simple moving average is $278.47. The stock has a market capitalization of $39.50 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm had revenue of $811.24 million for the quarter, compared to analyst estimates of $792.37 million. During the same quarter in the prior year, the business earned $1.75 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. Equities analysts forecast that Veeva Systems will post 4.35 EPS for the current year.

Insider Activity

In other news, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the transaction, the insider owned 23,773 shares of the company’s stock, valued at $7,132,850.92. This represents a 12.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $298.12, for a total value of $214,646.40. Following the transaction, the senior vice president owned 7,868 shares of the company’s stock, valued at approximately $2,345,608.16. This represents a 8.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 24,665 shares of company stock valued at $7,438,000. 10.30% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

Several institutional investors have recently added to or reduced their stakes in VEEV. Avantax Advisory Services Inc. raised its holdings in shares of Veeva Systems by 5.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,897 shares of the technology company’s stock valued at $2,061,000 after buying an additional 424 shares during the period. Cetera Investment Advisers grew its position in Veeva Systems by 1.0% in the 1st quarter. Cetera Investment Advisers now owns 77,370 shares of the technology company’s stock valued at $17,921,000 after acquiring an additional 776 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in Veeva Systems during the first quarter worth about $214,000. Pacer Advisors Inc. increased its stake in Veeva Systems by 45.7% during the first quarter. Pacer Advisors Inc. now owns 37,742 shares of the technology company’s stock worth $8,742,000 after purchasing an additional 11,840 shares during the period. Finally, Trilogy Capital Inc. lifted its position in shares of Veeva Systems by 2.8% during the first quarter. Trilogy Capital Inc. now owns 9,463 shares of the technology company’s stock worth $2,192,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.