Morgan Stanley Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its target price increased by Morgan Stanley from $195.00 to $201.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on VEEV. Piper Sandler upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Evercore ISI upped their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Finally, 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 research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $236.47 on Thursday. The company has a market capitalization of $38.39 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The business has a fifty day moving average price of $224.25 and a two-hundred day moving average price of $219.66. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93.

Institutional Trading of Veeva Systems

A number of large investors have recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co boosted its position 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 valued at $27,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Veeva Systems by 3,375.0% during 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 during the last quarter. Finally, Avion Wealth boosted 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 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.