Robert W. Baird Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price objective increased by equities research analysts at Robert W. Baird from $283.00 to $285.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 29.36% from the stock’s current price.

A number of other equities analysts also recently weighed in on VEEV. JPMorgan Chase & Co. upped their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Scotiabank raised their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Evercore ISI boosted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, Barclays raised their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.56.

Veeva Systems Stock Up 0.9 %

Shares of VEEV stock opened at $220.32 on Thursday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a fifty day moving average of $223.82 and a 200-day moving average of $219.54. The company has a market capitalization of $35.77 billion, a price-to-earnings ratio of 54.40, a P/E/G ratio of 1.89 and a beta of 0.85.

Institutional Trading of Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the fourth quarter worth approximately $25,000. Smithfield Trust Co increased its stake in 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 acquiring an additional 80 shares during the period. True Wealth Design LLC raised its holdings in 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 acquiring an additional 135 shares in the last quarter. Finally, Avion Wealth lifted its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds 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.