Veeva Systems' (VEEV) Overweight Rating Reaffirmed at Stephens

Veeva Systems (NYSE:VEEV - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $280.00 target price on the technology company's stock. Stephens' price objective indicates a potential upside of 16.97% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Scotiabank lifted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Two 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. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $255.28.

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Veeva Systems Stock Down 3.0 %

Veeva Systems stock traded down $7.42 during mid-day trading on Thursday, hitting $239.38. 2,104,861 shares of the company were exchanged, compared to its average volume of 1,181,926. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a fifty day moving average of $224.92 and a 200 day moving average of $220.34. The company has a market capitalization of $38.86 billion, a PE ratio of 59.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Hedge Funds Weigh In On Veeva Systems

Hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth boosted its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

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.