Veeva Systems (NYSE:VEEV) Updates Q3 Earnings Guidance

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Friday. BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Citigroup boosted their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Bank of America increased 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Veeva Systems Trading Up 5.2 %

Shares of NYSE:VEEV opened at $235.00 on Friday. The company has a market capitalization of $38.05 billion, a PE ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81. Veeva Systems has a 12-month low of $162.72 and a 12-month high of $240.68. The business’s fifty day simple moving average is $213.98 and its 200-day simple moving average is $199.75.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Research analysts predict that Veeva Systems will post 4.21 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s 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 in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by company 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.