KeyBanc Maintains Their Buy Rating on Veeva Systems (VEEV)


In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Veeva Systems (VEEV). The company’s shares closed last Monday at $163.41, close to its 52-week high of $176.90.

Bracelin wrote:

“We are raising our estimates and increasing PT to $190 based on a compelling opportunity for VEEV to double revenue again ($2B+) as it capitalizes on modern cloud software within the core life sciences vertical, as well as beyond.”

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 30.7% and a 75.3% success rate. Bracelin covers the Technology sector, focusing on stocks such as Slack Technologies Inc, Tyler Technologies, and Coupa Software Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veeva Systems with a $156.58 average price target, implying a -5.2% downside from current levels. In a report issued on August 23, Stifel Nicolaus also maintained a Buy rating on the stock with a $175 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $176.90 and a one-year low of $79.26. Currently, Veeva Systems has an average volume of 1.52M.

Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VEEV in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Veeva Systems, Inc. engages in the provision of industry-specific, cloud-based software solutions for the 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. The firm’s customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a regulated, content-centric processes across the enterprise. The company’s customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. The company was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007 and is headquartered in Pleasanton, CA.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts