Veeva Systems (VEEV) Updates Q4 Earnings Guidance

Veeva Systems (NYSE:VEEV) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.21-0.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.20. The company issued revenue guidance of $170-180 million, compared to the consensus revenue estimate of $177.43 million.

Veeva Systems (NYSE VEEV) opened at $57.77 on Wednesday. The stock has a market cap of $7,940.58, a price-to-earnings ratio of 97.03, a P/E/G ratio of 4.69 and a beta of 1.60. Veeva Systems has a fifty-two week low of $40.50 and a fifty-two week high of $68.07.

Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million for the quarter, compared to analyst estimates of $171.99 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. Veeva Systems’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. equities research analysts forecast that Veeva Systems will post 0.65 earnings per share for the current fiscal year.

VEEV has been the topic of several recent analyst reports. JMP Securities restated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a report on Saturday, August 26th. Needham & Company LLC restated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. KeyCorp restated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. Canaccord Genuity restated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus restated a buy rating and issued a $67.00 target price on shares of Veeva Systems in a report on Friday, October 13th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of Buy and a consensus price target of $67.45.

In related news, EVP Alan Mateo sold 532 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.11, for a total value of $30,914.52. Following the sale, the executive vice president now owns 8,294 shares in the company, valued at approximately $481,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 8,750 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $57.24, for a total transaction of $500,850.00. The disclosure for this sale can be found here. Insiders have sold 240,182 shares of company stock worth $13,898,852 in the last quarter. Company insiders own 17.50% of the company’s stock.

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Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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