Veeva Systems (NYSE:VEEV) Price Target Raised to $217.00

Veeva Systems (NYSE:VEEV) had its price target lifted by stock analysts at Truist Financial from $210.00 to $217.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Truist Financial’s price target suggests a potential downside of 8.48% from the company’s previous close.

VEEV has been the subject of several other reports. Morgan Stanley upped their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Mizuho started coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Canaccord Genuity Group increased their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $255.08.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $17.16 during midday trading on Thursday, reaching $237.10. The stock had a trading volume of 1,061,157 shares, compared to its average volume of 1,056,411. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a 50-day moving average of $223.82 and a 200-day moving average of $219.54. The company has a market capitalization of $38.49 billion, a price-to-earnings ratio of 58.31, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Institutional Trading of Veeva Systems

Hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in shares of Veeva Systems by 7.1% during the third quarter. QRG Capital Management Inc. now owns 9,987 shares of the technology company’s stock valued at $2,096,000 after purchasing an additional 664 shares in the last quarter. Moloney Securities Asset Management LLC bought a new stake in Veeva Systems during the 3rd quarter valued at $248,000. Marks Group Wealth Management Inc purchased a new position in shares of Veeva Systems in the 3rd quarter valued at $274,000. 1834 Investment Advisors Co. raised its position in shares of Veeva Systems by 5.8% in the 3rd quarter. 1834 Investment Advisors Co. now owns 2,660 shares of the technology company’s stock worth $558,000 after acquiring an additional 145 shares in the last quarter. Finally, Radnor Capital Management LLC purchased a new stake in shares of Veeva Systems during the third quarter valued at about $374,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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.