Brokerages Expect Veeva Systems Inc. (NYSE:VEEV) Will Post Quarterly Sales of $495.45 Million

Equities analysts forecast that Veeva Systems Inc. (NYSE:VEEVGet Rating) will announce $495.45 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Veeva Systems’ earnings. The lowest sales estimate is $494.80 million and the highest is $497.50 million. Veeva Systems reported sales of $433.57 million in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Veeva Systems will report full year sales of $2.17 billion for the current fiscal year, with estimates ranging from $2.16 billion to $2.18 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.54 billion, with estimates ranging from $2.52 billion to $2.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Veeva Systems.

Veeva Systems (NYSE:VEEVGet Rating) last released its earnings results on Wednesday, March 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.98 million. Veeva Systems had a return on equity of 15.61% and a net margin of 23.09%. During the same quarter in the previous year, the business earned $0.54 earnings per share.

Several research firms have commented on VEEV. Needham & Company LLC dropped their target price on shares of Veeva Systems from $327.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Piper Sandler reduced their target price on shares of Veeva Systems from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. Truist Financial assumed coverage on shares of Veeva Systems in a report on Friday, January 28th. They issued a “buy” rating and a $275.00 price objective for the company. SVB Leerink reiterated a “buy” rating and issued a $268.00 price target on shares of Veeva Systems in a research note on Monday, March 14th. Finally, Guggenheim cut their price objective on shares of Veeva Systems from $350.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $286.06.

In other news, Director Ronald E. F. Codd sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $207.14, for a total transaction of $4,142,800.00. Following the completion of the sale, the director now directly owns 442 shares of the company’s stock, valued at $91,555.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Sekhri sold 11,000 shares of the company’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $214.02, for a total transaction of $2,354,220.00. The disclosure for this sale can be found here. Company insiders own 13.18% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Tyler Stone Wealth Management bought a new stake in shares of Veeva Systems in the fourth quarter worth approximately $28,000. Jackson Grant Investment Advisers Inc. bought a new position in Veeva Systems during the 1st quarter worth about $28,000. Ten Capital Wealth Advisors LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at about $29,000. Amplius Wealth Advisors LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at approximately $31,000. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in Veeva Systems by 1,230.0% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 133 shares of the technology company’s stock worth $34,000 after buying an additional 123 shares during the period.

Shares of VEEV opened at $164.51 on Monday. The stock has a fifty day moving average of $188.04 and a 200-day moving average of $226.99. Veeva Systems has a 52 week low of $152.04 and a 52 week high of $343.96. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 62.55, a PEG ratio of 3.27 and a beta of 0.85.

About Veeva Systems (Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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