Veeva Systems (NYSE:VEEV) Releases Q3 Earnings Guidance

Veeva Systems (NYSE:VEEV - Get Free Report) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $1.57-1.58 for the period, compared to the consensus earnings per share estimate of $1.58. The company issued revenue guidance of $682-685 million, compared to the consensus revenue estimate of $684.10 million.

Veeva Systems Trading Up 5.2 %

Shares of NYSE VEEV traded up $11.64 during mid-day trading on Friday, reaching $235.03. 1,642,836 shares of the company's stock were exchanged, compared to its average volume of 939,800. Veeva Systems has a twelve month low of $162.72 and a twelve month high of $240.68. The firm has a market capitalization of $38.06 billion, a price-to-earnings ratio of 63.20, a PEG ratio of 2.10 and a beta of 0.81. The business has a fifty day simple moving average of $213.48 and a 200 day simple moving average of $199.34.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Equities research analysts predict that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Veeva Systems from $230.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup upped their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a "buy" rating in a research report on Tuesday, August 27th. Truist Financial lifted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the company a "hold" rating in a research report on Tuesday, September 3rd. BNP Paribas began coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $237.00.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company'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 transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.50% 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.