Veeva Systems (NYSE:VEEV) Updates Q3 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VEEV. BNP Paribas assumed coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. StockNews.com cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird cut their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Bank of America raised their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Piper Sandler raised their target price on Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.04.

Veeva Systems Stock Up 3.2 %

Shares of NYSE VEEV opened at $223.39 on Friday. Veeva Systems has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a market cap of $36.17 billion, a P/E ratio of 59.57, a PEG ratio of 2.10 and a beta of 0.81. The company has a 50 day moving average of $213.48 and a 200 day moving average of $199.34.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. As a group, equities analysts expect 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 that occurred 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 completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by insiders.

About Veeva Systems

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.