$465.31 Million in Sales Expected for Veeva Systems Inc. (NYSE:VEEV) This Quarter

Equities analysts forecast that Veeva Systems Inc. (NYSE:VEEV) will announce $465.31 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $464.39 million and the highest estimate coming in at $468.70 million. Veeva Systems posted sales of $377.52 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.3%. The business is expected to report its next earnings report after the market closes on Wednesday, December 1st.

On average, analysts expect that Veeva Systems will report full year sales of $1.83 billion for the current financial year, with estimates ranging from $1.83 billion to $1.84 billion. For the next year, analysts forecast that the business will post sales of $2.18 billion, with estimates ranging from $2.14 billion to $2.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Veeva Systems.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, August 31st. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $455.59 million during the quarter, compared to analyst estimates of $450.93 million. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS.

A number of equities analysts recently issued reports on VEEV shares. Guggenheim restated a “buy” rating on shares of Veeva Systems in a report on Tuesday, August 31st. Robert W. Baird lifted their price target on Veeva Systems from $340.00 to $349.00 and gave the company an “outperform” rating in a report on Thursday, September 2nd. SVB Leerink lifted their price target on Veeva Systems from $294.00 to $296.00 and gave the company a “market perform” rating in a report on Thursday, September 2nd. UBS Group lifted their price target on Veeva Systems from $270.00 to $320.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. Finally, JMP Securities boosted their price target on Veeva Systems from $320.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems currently has a consensus rating of “Buy” and an average price target of $344.11.

In other Veeva Systems news, SVP Jonathan Faddis sold 1,666 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $316.46, for a total transaction of $527,222.36. Following the sale, the senior vice president now owns 6,017 shares of the company’s stock, valued at $1,904,139.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of Veeva Systems stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $316.25, for a total value of $1,581,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,375 shares of company stock valued at $6,955,318. 13.18% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. MV Capital Management Inc. bought a new stake in Veeva Systems during the 2nd quarter worth approximately $31,000. Liberty Wealth Management LLC boosted its stake in shares of Veeva Systems by 43,713.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 9,639 shares of the technology company’s stock worth $31,000 after buying an additional 9,617 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Veeva Systems in the 3rd quarter worth approximately $34,000. Altshuler Shaham Ltd purchased a new position in shares of Veeva Systems in the 3rd quarter worth approximately $46,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter worth approximately $56,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:VEEV traded up $2.58 during trading on Friday, reaching $291.00. The company had a trading volume of 1,054,493 shares, compared to its average volume of 775,210. Veeva Systems has a twelve month low of $235.74 and a twelve month high of $343.96. The firm has a market capitalization of $44.64 billion, a PE ratio of 111.07, a price-to-earnings-growth ratio of 6.96 and a beta of 0.78. The firm’s fifty day moving average is $304.66 and its 200 day moving average is $305.82.

About Veeva Systems

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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Earnings History and Estimates for Veeva Systems (NYSE:VEEV)

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