Veeva Systems (NYSE:VEEV) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

Several other brokerages have also commented on VEEV. The Goldman Sachs Group cut their price target 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. TD Cowen restated a “buy” rating on shares of Veeva Systems in a research note on Thursday, June 4th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. BMO Capital Markets cut their target price on Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Finally, Barclays reduced their target price on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Down 0.1%

Shares of VEEV opened at $186.06 on Friday. The stock has a 50 day moving average price of $174.59 and a 200 day moving average price of $181.32. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. On average, equities analysts anticipate that Veeva Systems will post 6.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 750 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Sivia Capital Partners LLC grew its holdings in shares of Veeva Systems by 225.9% during the second quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock worth $899,000 after buying an additional 2,164 shares during the last quarter. Bank of Nova Scotia raised its stake in Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC lifted its position in Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after acquiring an additional 2,272 shares during the period. Treasurer of the State of North Carolina lifted its position in Veeva Systems by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC grew its stake in shares of Veeva Systems by 5.3% in the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after purchasing an additional 575 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Veeva Systems

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Guggenheim upgraded Veeva Systems to strong-buy and later set a $232 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Investor interest is being supported by articles highlighting Veeva as a cash-heavy stock with financial stability, which may appeal to defensive growth investors. Yahoo Finance
• Positive Sentiment: Recent commentary points to steady execution and attractive P/E multiples, reinforcing the view that Veeva’s fundamentals remain solid ahead of its next earnings report. Seeking Alpha
• Neutral Sentiment: Several recent articles focus on what to expect from Veeva’s next earnings release and broader analyst sentiment, suggesting the stock may remain sensitive to upcoming guidance and results. MSN
• Negative Sentiment: The stock had recently declined more than the broader market, reminding investors that near-term volatility remains a risk despite the positive analyst coverage. Yahoo Finance

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.