Robert W. Baird Forecasts Strong Price Appreciation for Veeva Systems (NYSE:VEEV) Stock

Veeva Systems (NYSE:VEEV) had its target price raised by analysts at Robert W. Baird from $283.00 to $285.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price points to a potential upside of 15.34% from the stock’s previous close.

VEEV has been the subject of a number of other research reports. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Stifel Nicolaus increased their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Scotiabank increased their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Price Performance

Shares of VEEV stock opened at $247.10 on Thursday. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 61.01, a P/E/G ratio of 1.89 and a beta of 0.88. The stock’s fifty day simple moving average is $224.92 and its 200 day simple moving average is $220.03. Veeva Systems has a one year low of $170.25 and a one year high of $258.93.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds have recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB boosted its holdings 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 purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co boosted its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

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.