Veeva Systems (VEEV) Receives a Buy from Guggenheim

In a report released today, Kenneth Wong from Guggenheim maintained a Buy rating on Veeva Systems (VEEVResearch Report). The company’s shares closed last Monday at $249.14.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 24.5% and a 62.0% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Guidewire.

Veeva Systems has an analyst consensus of Strong Buy, with a price target consensus of $327.67.

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Based on Veeva Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $397 million and net profit of $103 million. In comparison, last year the company earned revenue of $312 million and had a net profit of $66.18 million.

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Founded in 2007 and headquartered in California, Veeva Systems, Inc. is a leader in cloud-based software for the global life sciences industry. Its solutions are focused on pharmaceutical and life sciences industry applications.