Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Veeva Systems (NYSE:VEEV) had its target price hoisted by JPMorgan Chase & Co. from $218.00 to $249.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.07% from the company’s previous close.

A number of other brokerages have also issued reports on VEEV. Canaccord Genuity Group increased their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Barclays lifted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Finally, KeyCorp dropped their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Up 0.5 %

NYSE VEEV opened at $236.98 on Thursday. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The business has a 50-day moving average price of $229.24 and a 200-day moving average price of $222.17. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Institutional Investors Weigh In On Veeva Systems

Large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $25,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC boosted its position in Veeva Systems by 3,375.0% during the third 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 grew its stake in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 88.20% 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.