Veeva Systems (NYSE:VEEV) Issues 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 (EPS) guidance of $1.57-1.58 for the period, compared to the consensus estimate of $1.58. The company issued revenue guidance of $682-685 million, compared to the consensus revenue estimate of $684.10 million.

Analyst Ratings Changes

VEEV has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Friday. Barclays increased their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird cut their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Veeva Systems Stock Performance

Shares of VEEV opened at $235.00 on Friday. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 62.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81. The stock’s fifty day moving average is $213.98 and its 200-day moving average is $199.75. Veeva Systems has a one year low of $162.72 and a one year high of $240.68.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Analysts forecast that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the 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 directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

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.