Veeva Systems (NYSE:VEEV) Upgraded to “Buy” at Truist Financial

by · The Markets Daily

Veeva Systems (NYSE:VEEV – Get Free Report) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages also recently issued reports on VEEV. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. BTIG Research reiterated a “buy” rating and set a $340.00 target price on shares of Veeva Systems in a research note on Friday, November 21st. Wall Street Zen downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Monday, November 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Nineteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $307.42.

Check Out Our Latest Stock Analysis on Veeva Systems

Veeva Systems Price Performance

Veeva Systems stock traded up $3.62 during mid-day trading on Thursday, hitting $242.97. 288,854 shares of the company’s stock traded hands, compared to its average volume of 1,455,544. The firm has a 50 day simple moving average of $248.87 and a two-hundred day simple moving average of $271.59. Veeva Systems has a fifty-two week low of $201.54 and a fifty-two week high of $310.50. The stock has a market cap of $39.94 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 1.76 and a beta of 1.07.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a net margin of 27.93% and a return on equity of 13.68%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. On average, research analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Veeva Systems declared that its board has approved a share buyback program on Monday, January 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Veeva Systems

Several large investors have recently modified their holdings of VEEV. GPS Wealth Strategies Group LLC lifted its position in Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Veeva Systems in the 4th quarter valued at approximately $27,000. Raiffeisen Bank International AG acquired a new position in shares of Veeva Systems in the 3rd quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $29,000. Finally, OLD Second National Bank of Aurora bought a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $30,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Company Profile

(Get Free Report)

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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