Needham Believes Veeva Systems (VEEV) Still Has Room to Grow


Needham analyst Scott Berg assigned a Buy rating to Veeva Systems (VEEV) today and set a price target of $235.00. The company’s shares closed last Monday at $213.95, close to its 52-week high of $220.91.

According to TipRanks.com, Berg is a top 100 analyst with an average return of 18.4% and a 69.1% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and Tyler Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veeva Systems with a $221.36 average price target, which is a 9.4% upside from current levels. In a report issued on May 29, Piper Sandler also maintained a Buy rating on the stock with a $220.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $220.91 and a one-year low of $118.11. Currently, Veeva Systems has an average volume of 1.58M.

Based on the recent corporate insider activity of 136 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. Earlier this month, Ronald Codd, a Director at VEEV sold 40,000 shares for a total of $8,729,051.

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