Raymond James Keeps Their Buy Rating on Veeva Systems (VEEV)

Raymond James analyst Brian Peterson maintained a Buy rating on Veeva Systems (VEEVResearch Report) on April 13. The company’s shares closed last Wednesday at $272.40.

According to TipRanks.com, Peterson is a top 100 analyst with an average return of 35.3% and a 74.8% success rate. Peterson covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Inc., ZoomInfo Technologies, and BigCommerce Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veeva Systems with a $305.50 average price target, implying a 12.3% upside from current levels. In a report issued on June 8, Citigroup also initiated coverage with a Buy rating on the stock with a $265.00 price target.

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Based on Veeva Systems’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $354 million and net profit of $93.55 million. In comparison, last year the company earned revenue of $281 million and had a net profit of $82.25 million.

Based on the recent corporate insider activity of 131 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VEEV in relation to earlier this year. Most recently, in October 2020, Alan Mateo, the EVP Global Sales of VEEV bought 3,335 shares for a total of $90,012.

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Veeva Systems, Inc. engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance. The firm’s customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a regulated, content-centric processes across the enterprise. The company’s customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. The company was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007 and is headquartered in Pleasanton, CA.