A number of firms have modified their ratings and price targets on shares of Veeva Systems (NYSE: VEEV) recently:

  • 11/29/2016 – Veeva Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $52.00 price target on the stock. According to Zacks, “In the past 6 months, Veeva Systems had outperformed the broader industry trend with respect to price performance. Additionally, a positive estimate revision trend in the last seven days instills confidence on the stock. Veeva Systems ended the third quarter of 2017 on an impressive note, beating the Zacks Consensus Estimate on both lines. Further, the company’s raised the guidance for fiscal 2017. Veeva Systems has strengthened the recurring part of its revenue mix by marking significant growth in subscription revenues in the reported quarter. Moreover, the new launches at the Veeva Vault and the Veeva Coomercial Cloud platforms are encouraging. The company is also supported by considerable strength in its CRM platform. However, intensifying competition, high operating expenses and a saturating lifesciences market are key concerns.”
  • 11/26/2016 – Veeva Systems had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $47.00 price target on the stock, up previously from $45.00.
  • 11/26/2016 – Veeva Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $46.00 price target on the stock.
  • 11/24/2016 – Veeva Systems had its “hold” rating reaffirmed by analysts at JMP Securities.
  • 11/23/2016 – Veeva Systems had its price target raised by analysts at Canaccord Genuity from $46.00 to $48.00. They now have a “buy” rating on the stock.
  • 11/23/2016 – Veeva Systems had its price target raised by analysts at Stifel Nicolaus from $45.00 to $48.00. They now have a “buy” rating on the stock.
  • 11/23/2016 – Veeva Systems had its price target raised by analysts at Deutsche Bank AG from $36.00 to $44.00. They now have a “hold” rating on the stock.
  • 11/23/2016 – Veeva Systems had its price target raised by analysts at KeyCorp from $42.00 to $48.00. They now have an “overweight” rating on the stock.
  • 10/15/2016 – Veeva Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $46.00 price target on the stock.
  • 10/13/2016 – Veeva Systems is now covered by analysts at JMP Securities. They set a “market perform” rating on the stock.
  • 10/4/2016 – Veeva Systems is now covered by analysts at Goldman Sachs Group Inc.. They set a “neutral” rating and a $43.00 price target on the stock.
  • 10/4/2016 – Veeva Systems had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $46.00 price target on the stock, up previously from $43.00.

Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 46.48 on Thursday. Veeva Systems Inc. has a 12-month low of $19.97 and a 12-month high of $47.95. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 103.29 and a beta of 1.60. The firm has a 50-day moving average price of $39.68 and a 200 day moving average price of $37.51.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. Veeva Systems had a return on equity of 12.84% and a net margin of 12.73%. The business earned $142.80 million during the quarter, compared to analyst estimates of $135.67 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts anticipate that Veeva Systems Inc. will post $0.63 earnings per share for the current fiscal year.

In related news, SVP Jonathan Faddis sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $46.31, for a total transaction of $3,010,150.00. Following the completion of the transaction, the senior vice president now owns 67,489 shares in the company, valued at approximately $3,125,415.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 52,339 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $45.01, for a total value of $2,355,778.39. Following the transaction, the executive vice president now owns 6,409 shares of the company’s stock, valued at approximately $288,469.09. The disclosure for this sale can be found here. Corporate insiders own 19.17% of the company’s stock.

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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