Veeva Systems (NYSE:VEEV) Releases Q3 Earnings Guidance

Veeva Systems (NYSE:VEEV) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.57-1.58 for the period, compared to the consensus estimate of $1.58. The company issued revenue guidance of $682-685 million, compared to the consensus revenue estimate of $684.10 million.

Veeva Systems Price Performance

Shares of NYSE:VEEV traded up $11.61 during midday trading on Friday, reaching $235.00. The company had a trading volume of 2,472,493 shares, compared to its average volume of 752,313. The stock has a market capitalization of $38.05 billion, a P/E ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. Veeva Systems has a one year low of $162.72 and a one year high of $240.68. The stock’s fifty day moving average price is $213.98 and its 200-day moving average price is $199.75.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million for 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 year.

Analysts Set New Price Targets

VEEV has been the topic of several analyst reports. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird decreased their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Guggenheim boosted their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. TD Cowen increased their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Piper Sandler lifted their price target on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by corporate 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.