Veeva Systems (NYSE:VEEV) Rating Lowered to Hold at Wall Street Zen

Veeva Systems (NYSE:VEEV) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other equities analysts have also recently commented on VEEV. Evercore reissued an “outperform” rating and issued a $185.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. 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 note on Thursday, June 4th. Barclays decreased 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. Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. Finally, Robert W. Baird upped their price target on Veeva Systems from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $211.86 on Monday. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 37.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92. The business has a 50-day moving average of $180.55 and a 200 day moving average of $179.84. Veeva Systems has a 12 month low of $148.05 and a 12 month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.72%. The business had revenue of $882.95 million for the quarter, compared to analysts’ expectations of $857.73 million. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business’s quarterly revenue was up 16.3% on a year-over-year basis. 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. Equities research analysts anticipate that Veeva Systems will post 6.65 earnings per share for the current year.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. SHP Wealth Management acquired a new stake in Veeva Systems in the fourth quarter valued at $26,000. Newbridge Financial Services Group Inc. boosted its position in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Activest Wealth Management boosted its position in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Arlington Trust Co LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.