Veeva Systems (NYSE:VEEV) Price Target Raised to $285.00

Veeva Systems (NYSE:VEEV) had its target price boosted by analysts at Robert W. Baird from $283.00 to $285.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 29.36% from the stock’s previous close.

A number of other research analysts have also weighed in on VEEV. Barclays boosted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp dropped their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group increased their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.56.

Veeva Systems Stock Up 0.9 %

Shares of Veeva Systems stock opened at $220.32 on Thursday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a 50 day moving average price of $223.82 and a two-hundred day moving average price of $219.54. The stock has a market capitalization of $35.77 billion, a P/E ratio of 54.40, a PEG ratio of 1.89 and a beta of 0.85.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in Veeva Systems in the fourth quarter valued at approximately $25,000. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC boosted its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $31,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.