Veeva Systems (VEEV) Updates Q2 Earnings Guidance

Veeva Systems (NYSE:VEEV) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.33-0.34 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.32. The company issued revenue guidance of $203-204 million, compared to the consensus revenue estimate of $198.76 million.Veeva Systems also updated its FY19 guidance to $1.36-1.38 EPS.

Veeva Systems opened at $77.04 on Friday, according to Marketbeat.com. Veeva Systems has a twelve month low of $52.17 and a twelve month high of $79.96. The firm has a market cap of $10.91 billion, a P/E ratio of 110.24, a PEG ratio of 4.64 and a beta of 1.40.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Veeva Systems had a return on equity of 13.06% and a net margin of 20.78%. The company had revenue of $184.92 million for the quarter, compared to the consensus estimate of $180.13 million. research analysts forecast that Veeva Systems will post 0.98 earnings per share for the current year.

VEEV has been the topic of several recent research reports. Morgan Stanley raised Veeva Systems from an equal weight rating to an overweight rating in a report on Tuesday, January 30th. DA Davidson initiated coverage on Veeva Systems in a report on Friday, February 2nd. They set a buy rating and a $75.00 target price on the stock. Zacks Investment Research downgraded Veeva Systems from a hold rating to a sell rating in a report on Friday, February 2nd. Vetr raised Veeva Systems from a buy rating to a strong-buy rating and set a $61.05 target price on the stock in a report on Thursday, February 8th. Finally, William Blair reaffirmed an outperform rating on shares of Veeva Systems in a report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $75.43.

In other news, SVP Frederic Lequient sold 2,875 shares of Veeva Systems stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $71.72, for a total value of $206,195.00. Following the completion of the transaction, the senior vice president now directly owns 2,875 shares of the company’s stock, valued at approximately $206,195. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan Mateo sold 603 shares of Veeva Systems stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $72.59, for a total value of $43,771.77. Following the completion of the transaction, the executive vice president now directly owns 11,221 shares of the company’s stock, valued at $814,532.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,733 shares of company stock valued at $12,965,920. Corporate insiders own 15.97% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

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