The stock of Veeva Systems Inc. (NYSE:VEEV) increased by $1.45 on Friday to finish at $194.11, up 0.75 percent. The last five days have seen an average of 577,200 shares of common stock traded. 21 times new highs were reached in the current year, with a gain of $32.73. The average number of shares traded over the last 20 days was 723,745, while the average volume over the last 50 days totaled 951,306.
VEEV stock dropped -7.01% since last month. On 08/08/23, the company’s shares reached a one-month low of $190.38. The stock touched a high of $231.42 on 07/19/23, after rallying from a low of $151.02 in 52 weeks. The price of VEEV stock has risen by 20.28% or $32.73 this year, reaching a new high 21 times. Still, the stock price is down -16.12% from the 52-week high.
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Insider Transactions
VEEV stock investors should be aware that Veeva Systems Inc. (VEEV) stock had its last reported insider trading activity 32 days ago on Jul 13. On Jul 13, Director Hedley Mary Lynne sold 138 shares at $208.31 each. This transaction resulted in the insider making $28,747. On Jul 12, Hedley Mary Lynne sold 92 shares at a price of US$207.20. After the transaction, the insider now owns 3,744 shares. Director Chamberlain Paul Edward had earlier sold 160 shares on Jun 12 for $189.22 a share. The transaction was completed for $30,275.
Valuation Metrics
Veeva Systems Inc. (VEEV) has a trailing price-to-earnings (P/E) ratio of 53.99. Beta for the stock is 0.93. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 14.18, the price-to-book (PB) ratio of 7.87, and the price-to-cash flow ratio of 39.01.
Financial Health
For the three months ended April 29, Veeva Systems Inc.’s quick ratio was 4.20, while its current ratio was 4.20, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 70.80% percent. Veeva Systems Inc.’s EBITDA margin for the year ended April 29 was 23.05%, whereas its operating margin stood at 18.10% for the same period. Based on annual data, it had gross profit of $1.55 billion and revenue of $2.16 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. VEEV’s return on assets (ROA) during the last 12 months has been 11.50%. There was a 11.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.50%.
Earnings Surprise
According to Veeva Systems Inc.’s quarterly financial report for the quarter that ended April 29, it had $2.52 billion in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $526.33 million, while revenues rose by 4.03% to $259.11 million. It was predicted that Veeva Systems Inc.’s quarterly earnings would be $0.91, but it ended up being $0.79, beating the consensus by 15.20%. EBITDA was $70.72 million for the quarter. At the end of Veeva Systems Inc.’s most recent quarter ended April 29, its liabilities totaled 1.08 billion, while its total debt was $58.23 million. Equity owned by shareholders amounts to $160.22 million.
Technical Picture
Here’s a quick look at Veeva Systems Inc.’s (VEEV) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 40.57%, suggesting the stock is Neutral, with a 16.84% historical volatility rate.
The stochastic %K and %D were 21.84% and 21.64% respectively, while the average true range (ATR) was 4.62. Based on the 14-day stochastic reading of 25.54%, the RSI (14) reading is 44.32%. On the 9-day MACD Oscillator, the stock is at -2.53, and the 14-day reading is at -4.00.
Analyst Ratings
Veeva Systems Inc. (NYSE: VEEV) was downgraded by Morgan Stanley to a an Underweight rating in its latest research report. The stock was previously rated as a an Equal-weight. Analysts have assigned Veeva Systems Inc. (VEEV) an Overweight rating. VEEV is a stock that is recommended for selling by 1 brokerage firm, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 14 others recommend it as a buy.
What is VEEV’s price target for the next 12 months?
The current consensus forecast for the stock is between $170.00 and $240.00, with a median target price of $210.00. In analyzing these forecasts, the average price target given by analysts for Veeva Systems Inc. (VEEV) is $210.60.
