Veeva Systems (NYSE:VEEV) Price Target Raised to $280.00

Veeva Systems (NYSE:VEEV) had its price target increased by Piper Sandler from $230.00 to $280.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 19.04% from the company’s previous close.

A number of other equities analysts have also weighed in on VEEV. Citigroup boosted their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. TD Cowen boosted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Raymond James lifted their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $235.04.

Veeva Systems Stock Performance

VEEV stock opened at $235.21 on Friday. The firm has a 50 day moving average price of $213.48 and a 200-day moving average price of $199.34. Veeva Systems has a 52-week low of $162.72 and a 52-week high of $237.57. The firm has a market capitalization of $38.09 billion, a price-to-earnings ratio of 59.57, a PEG ratio of 2.10 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, sell-side analysts forecast that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Veeva Systems in the 3rd quarter worth about $1,256,000. Banque Cantonale Vaudoise grew its position in Veeva Systems by 70.1% in the third quarter. Banque Cantonale Vaudoise now owns 9,041 shares of the technology company’s stock worth $1,897,000 after acquiring an additional 3,725 shares in the last quarter. Pathstone Holdings LLC increased its stake in Veeva Systems by 15.4% during the third quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock worth $2,368,000 after acquiring an additional 1,508 shares during the last quarter. Quest Partners LLC raised its position in Veeva Systems by 4.7% during the third quarter. Quest Partners LLC now owns 4,172 shares of the technology company’s stock valued at $876,000 after purchasing an additional 188 shares during the period. Finally, Gilbert & Cook Inc. purchased a new stake in Veeva Systems during the third quarter valued at approximately $452,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.