Veeva Systems (NYSE:VEEV) Releases Q2 Earnings Guidance

Veeva Systems (NYSE:VEEV) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.53-$1.54 for the period, compared to the consensus estimate of $1.52. The company issued revenue guidance of $666-$669 million, compared to the consensus revenue estimate of $675.05 million. Veeva Systems also updated its FY25 guidance to $6.16 EPS.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. KeyCorp raised their target price on Veeva Systems from $232.00 to $250.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Needham & Company LLC reaffirmed a buy rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, April 2nd. UBS Group raised their price objective on Veeva Systems from $185.00 to $235.00 and gave the stock a neutral rating in a research report on Monday, February 26th. Barclays raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Finally, Citigroup raised their price objective on Veeva Systems from $240.00 to $264.00 and gave the stock a buy rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $235.10.

Veeva Systems Stock Performance

VEEV traded down $6.31 on Thursday, hitting $194.19. 1,941,720 shares of the company were exchanged, compared to its average volume of 919,064. Veeva Systems has a 12 month low of $162.36 and a 12 month high of $236.90. The company has a market cap of $31.33 billion, a PE ratio of 62.27, a PEG ratio of 1.95 and a beta of 0.76. The stock’s fifty day moving average is $209.52 and its 200-day moving average is $203.86.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, equities research analysts expect that Veeva Systems will post 4.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,818,013 over the last 90 days. 10.50% of the stock is currently owned by insiders.

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.