Jefferies Financial Group Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price objective hoisted by Jefferies Financial Group from $295.00 to $375.00 in a report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

A number of other analysts also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Veeva Systems from $325.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company restated an “overweight” rating and set a $330.00 target price (up from $320.00) on shares of Veeva Systems in a report on Tuesday, September 8th. Guggenheim lifted their price target on shares of Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Piper Sandler upped their price target on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, UBS Group upped their price target on Veeva Systems from $290.00 to $325.00 and gave the company a “neutral” rating in a report on Friday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.08.

Veeva Systems Stock Down 1.9%

VEEV traded down $5.87 during trading on Friday, reaching $304.23. The stock had a trading volume of 1,746,403 shares, compared to its average volume of 1,508,434. The firm has a market capitalization of $49.26 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. Veeva Systems has a 1-year low of $148.05 and a 1-year high of $325.99. The stock has a 50 day moving average of $289.24 and a two-hundred day moving average of $211.95.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million for the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $1.99 EPS. 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. On average, research analysts forecast that Veeva Systems will post 6.70 EPS for the current fiscal year.

Insider Activity

In related news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the sale, the director owned 3,242 shares in the company, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Rizzo sold 4,841 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the transaction, the executive vice president directly owned 7,665 shares of the company’s stock, valued at $2,119,449.15. This represents a 38.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 56,789 shares of company stock valued at $14,913,889. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Veeva Systems

Several large investors have recently added to or reduced their stakes in VEEV. Aberdeen Group plc lifted its stake in Veeva Systems by 1,513.8% in the 3rd quarter. Aberdeen Group plc now owns 2,029,943 shares of the technology company’s stock worth $579,447,000 after acquiring an additional 1,904,153 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Veeva Systems by 7.4% in the 3rd quarter. Allworth Financial LP now owns 3,587 shares of the technology company’s stock valued at $1,024,000 after purchasing an additional 247 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Veeva Systems in the 3rd quarter valued at about $207,000. Nikulski Financial Inc. acquired a new position in shares of Veeva Systems in the 3rd quarter valued at about $1,272,000. Finally, Maryland State Retirement & Pension System lifted its position in shares of Veeva Systems by 13.8% in the third quarter. Maryland State Retirement & Pension System now owns 9,285 shares of the technology company’s stock worth $2,650,000 after purchasing an additional 1,127 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems News Summary

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

• Positive Sentiment: Royal Bank of Canada raised its price target to $365 from $325 and reiterated an “outperform” rating, implying about 20% upside from the cited $304.23 share price. Royal Bank of Canada recommendations
• Positive Sentiment: Needham raised its target to $360 from $310 and maintained a “buy” rating, citing about 18% potential upside from $304.23. Needham recommendations
• Positive Sentiment: Stifel lifted its price target to $340 from $300, adding to the wave of upward target revisions. Stifel raises Veeva price target
• Positive Sentiment: UCB selected Veeva Vault CRM as a core platform for its commercial operations and plans to use industry-specific AI for product launches and customer engagement. The deal supports Veeva’s positioning as a specialized technology provider for life sciences companies. Veeva becomes core CRM choice for major biopharma AI rollout

About Veeva Systems

Veeva Systems Inc develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations.

The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.

Founded in 2007 and headquartered in Pleasanton, California, Veeva serves life sciences companies in markets around the world.