Veeva Systems (NYSE:VEEV) has received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $72.42.
VEEV has been the subject of several research reports. JMP Securities upped their price target on shares of Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, March 23rd. Morgan Stanley raised shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. KeyCorp reiterated an “overweight” rating and set a $81.00 price objective (up previously from $70.00) on shares of Veeva Systems in a research note on Friday, March 2nd. Finally, ValuEngine upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd.
In other Veeva Systems news, SVP Frederic Lequient sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total transaction of $930,000.00. Following the transaction, the senior vice president now owns 15,000 shares in the company, valued at approximately $930,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 701 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $58.85, for a total transaction of $41,253.85. Following the transaction, the executive vice president now owns 9,512 shares in the company, valued at approximately $559,781.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,831 shares of company stock valued at $13,440,162. 19.17% of the stock is currently owned by company insiders.
Shares of VEEV traded up $1.01 during mid-day trading on Thursday, hitting $73.28. The company’s stock had a trading volume of 1,260,929 shares, compared to its average volume of 1,203,730. Veeva Systems has a 52-week low of $50.09 and a 52-week high of $78.28. The stock has a market capitalization of $10,156.91, a PE ratio of 79.65, a PEG ratio of 4.32 and a beta of 1.39.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The firm had revenue of $184.92 million during the quarter, compared to analysts’ expectations of $180.13 million. equities analysts expect that Veeva Systems will post 0.98 earnings per share for the current fiscal year.
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About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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