Veeva Systems (NYSE:VEEV) Earns “Outperform” Rating from Royal Bank Of Canada

Veeva Systems (NYSE:VEEV)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $275.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 51.38% from the stock’s previous close.

Other analysts have also issued research reports about the company. UBS Group reduced their target price on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley upped their price target on shares of Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Wells Fargo & Company increased their target price on shares of Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus set a $230.00 price objective on shares of Veeva Systems in a report on Thursday. Finally, Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.09.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $181.66 on Thursday. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The firm has a 50-day simple moving average of $166.29 and a two-hundred day simple moving average of $196.71. The company has a market cap of $29.67 billion, a P/E ratio of 33.48, a PEG ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm 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 firm posted $1.97 earnings per share. The company’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. As a group, equities research analysts expect that Veeva Systems will post 6.45 EPS for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares in the company, valued at $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction 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. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of VEEV. SHP Wealth Management purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $26,000. Board of the Pension Protection Fund acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in shares of Veeva Systems in the third quarter valued at $28,000. Newbridge Financial Services Group Inc. boosted its position in shares of Veeva Systems by 322.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Finally, Activest Wealth Management raised its position in Veeva Systems by 3,175.0% during the fourth quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems News Summary

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

• Positive Sentiment: Veeva beat first-quarter estimates, posting adjusted EPS of $2.24 versus $2.14 expected and revenue of $882.9 million versus $857.7 million expected, with sales up 16.3% year over year. The company also said AI-related progress is helping drive the business. Article Title
• Positive Sentiment: Management issued upbeat guidance, including Q2 FY2027 EPS of $2.21 to $2.22 and revenue of $902 million to $905 million, both above Wall Street expectations. FY2027 EPS guidance was also above consensus, reinforcing confidence in continued growth. Article Title
• Positive Sentiment: Several analysts remained constructive after the earnings release: Needham reiterated a buy with a $270 target, BTIG kept a buy and lifted its target to $340, and Robert W. Baird raised its target to $260. Article Title
• Neutral Sentiment: Not all analyst updates were more bullish: Barclays and Piper Sandler both trimmed their price targets to $235, though each still kept an overweight rating, suggesting continued confidence despite slightly reduced expectations. Article Title

About Veeva Systems

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.