Veeva Systems Inc (NYSE:VEEV) saw a downside of -0.03% to close Friday at $203.14 after subtracting -$0.06 on the day. The 5-day average trading volume is 753,700 shares of the company’s common stock. It has gained $212.04 in the past week and touched a new high 2 times within the past 5 days. An average of 1,174,075 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 896,566.
VEEV’s 1-month performance is 8.28% or $15.87 on its low of $185.90 reached on 08/25/23. The company’s shares have touched a 52-week low of $151.02 and high of $225.49, with the stock’s rally to the 52-week high happening on 09/11/23. YTD, VEEV has achieved 25.88% or $41.76 and has reached a new high 27 times. However, the current price is down -9.91% from the 52-week high price.
Insider Transactions
VEEV stock investors last saw insider trading activity on Sep 18.Wallach Matthew J (Director) most recently sold 5,000 shares at $209.07 per share on Sep 18. This transaction cost the insider $1,045,330. Director, SEKHRI PAUL J, sold 2,500 shares at a price of $224.85 on Sep 11. Then, on Sep 05, President and COO Schwenger Thomas D. sold 1,238 shares at a price of $220.00 per share. This transaction amounted to $272,360.
Valuation Metrics
VEEV stock has a beta of 0.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 14.62 while the price-to-book (PB) in the most recent quarter is 7.86, with the price to cash flow ratio at 33.83.
Veeva Systems Inc’s quick ratio for the period ended July 30 was 4.35, with the current ratio over the same period at 4.35. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.01, while the total debt to equity was 0.01. In terms of profitability, the gross margin trailing 12 months is 70.54%. The trailing 12-month EBITDA margin is 23.05% while for the period ending July 30, Veeva Systems Inc’s operating margin was 17.74%. The firm’s gross profit as reported stood at $1.55 billion against revenue of $2.16 billion.
Earnings Surprise
For the quarterly period ending July 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 18.84% to $111.63 million, while revenue of $131.52 million was -17.82% off the previous quarter. Analysts expected VEEV to announce $1.13 per share in earnings in its latest quarter, but it posted $1.21, representing a 7.10% surprise. EBITDA for the quarter stood at more than $109.01 million. VEEV stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 1.08 billion, with total debt at $58.51 million. Shareholders hold equity totaling $160.66 million.
Let’s look briefly at Veeva Systems Inc (VEEV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 38.61% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.11%.
The stock’s 5-day moving average is $206.71, reflecting a -2.81% or -$5.87 change from its current price. VEEV is currently trading +8.99% above its 20-day SMA, +12.86% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -2.69% and SMA200 by+21.47%.
Stochastic %K and %D was 15.17% and 31.66% and the average true range (ATR) pointed at 4.89. The RSI (14) points at 45.83%, while the 14-day stochastic is at 3.29% with the period’s ATR at 4.98. The stock’s 9-day MACD Oscillator is pointing at -4.14 and -8.60 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Veeva Systems Inc (NYSE: VEEV), Morgan Stanley downgraded it to an Underweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for VEEV stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate VEEV as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 12 have offered a “buy” rating.
What is VEEV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $181.00 and a high of $250.00, with their median price target at $225.00. Looking at these predictions, the average price target given by analysts is for Veeva Systems Inc (VEEV) stock is $223.64.
