Veeva Systems (NYSE:VEEV) Announces Earnings Results, Misses Estimates By $0.39 EPS

Veeva Systems (NYSE:VEEV) released its earnings results on Wednesday. The technology company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.39), Zacks reports. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%.

Veeva Systems Trading Up 0.9 %

VEEV stock traded up $1.87 during midday trading on Wednesday, hitting $220.32. The company’s stock had a trading volume of 1,475,867 shares, compared to its average volume of 1,056,851. The firm’s 50-day moving average is $223.76 and its 200-day moving average is $219.53. The company has a market cap of $35.77 billion, a PE ratio of 54.40, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Barclays lifted their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Robert W. Baird upped their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Stephens began coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.48.

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.