Veeva Systems Inc. (NYSE:VEEV) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $0.86-0.87 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.83. The company issued revenue guidance of $672-674 million, compared to the consensus revenue estimate of $669.86 million.Veeva Systems also updated its Q3 guidance to $0.21-0.22 EPS.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 55.81 on Friday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 89.87 and a beta of 1.63. The firm’s 50-day moving average price is $63.17 and its 200 day moving average price is $56.06. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million during the quarter, compared to the consensus estimate of $164.26 million. Veeva Systems had a return on equity of 13.31% and a net margin of 18.98%. The company’s revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Analysts predict that Veeva Systems Inc. will post $0.83 EPS for the current fiscal year.
Several research firms have recently weighed in on VEEV. Bank of America Corporation raised Veeva Systems from a neutral rating to a buy rating and increased their price objective for the company from $48.00 to $70.00 in a report on Friday, May 26th. Morgan Stanley downgraded Veeva Systems from an overweight rating to an equal weight rating and increased their price objective for the company from $53.00 to $68.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Stifel Nicolaus reissued a buy rating and issued a $67.00 price objective (up from $60.00) on shares of Veeva Systems in a report on Sunday, May 21st. Deutsche Bank AG reissued a hold rating and issued a $55.00 price objective on shares of Veeva Systems in a report on Tuesday, May 30th. Finally, BidaskClub downgraded Veeva Systems from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $63.69.
In other Veeva Systems news, SVP Jonathan Faddis sold 34,065 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $66.67, for a total value of $2,271,113.55. Following the completion of the transaction, the senior vice president now owns 35,139 shares in the company, valued at $2,342,717.13. 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 40,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $65.91, for a total value of $2,636,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $1,977,300. The disclosure for this sale can be found here. Insiders have sold 279,958 shares of company stock valued at $17,821,591 in the last 90 days. Company insiders own 19.17% of the company’s stock.
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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