KeyBanc launched its Veeva Systems [VEEV] rating to the equivalent of Overweight and assigned the price target of $332.0, in a research note dated 2021-01-07. That figure represents around a 23.61% premium from where the company’s shares closed on Wednesday. Meanwhile, Needham had maintained its rating on VEEV to the earlier “Buy” rating, in a research note produced for clients August 28, 2020. In addition, FBN Securities launched coverage on July 23, 2020. The research firm rated VEEV “an Outperform”.
Is Veeva Systems Inc. [NYSE:VEEV] a Good Buy Right Now?
It should be noted that VEEV technical indicators for short, intermediate as well as long term progress have placed an overall average of 8% as Buy. The average signal changed from 40% Buy in the last week and compares with 8% Buy in the past month. Data from Veeva Systems Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.94 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 1.02 million shares while the medium term average advocated for Hold. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.91 million shares.
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VEEV Price Performance
On Wall Street, Veeva Systems Inc. [NYSE:VEEV] finished Wednesday’s session down -2.99% at $268.57. The stock went up to $274.83 at the same session while its lowest single day price was $265.25. In the last five days, it saw a fall of about -2.53%, Veeva Systems Inc. shares dropped by almost -1.35% since the beginning of the year. However, the share price has dropped to as low as -14.47% below its one year high. On 01/05/21, the company shares recorded $277.48, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $265.25. The company’s shares have inclined by 92.94% in the past year. The 50-day SMA achieved is $274.83 while the 200-day SMA is $244.98. Volume gained to 1.11 million from 0.79 million in the previous session.
Veeva Systems Inc. [VEEV] Valuation Measures
Notably, Veeva Systems Inc. [VEEV] stock cannot be classified as a good candidate in the listing of underestimated low-priced Health Information Services companies to purchase soonest possible with the prevailing 12-month PE ratio of 121.36. The measure means the stock is exchanging at a premium as compared to the 31.06x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 29.90 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.28 which means VEEV serve an unattractive investment opportunity compared to its competitors.
VEEV Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 264.27 level, and in case of violation of this particular level, it will cause more drop to 259.97 level. On the upper level, 279.13 is still the key resistance. The stock may increase to the subsequent resistance at 273.85. The Relative Strength Index (RSI) pinned on the 14-day chart is 45.19, implying a neutral technical stance while the MACD stands at -3.36, meaning price will decrease in the next trading period. Percent R indicator moved to 83.49%, implying bearish price movement. Stochastic %K at 34.67% suggest selling the stock.
What is the short interest in Veeva Systems Inc.?
Short interest in the Veeva Systems Inc. stock has plunged, decreasing by 50000.0 shares to total 1.96 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.91 million, data from Yahoo Finance shows. The increase of 2.55% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.44% of the overall float for the stock.
Veeva Systems Inc.’s Biggest Shareholders: Who Owns Veeva Systems Inc. [VEEV]?
Filings by Morgan Stanley Investment Managem showed that the firm now holds a total of 12,076,746 shares or roughly 8.90% of the outstanding VEEV shares. This means their shares have increased by 433,505 from the 12,076,746 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $3,333,851,474. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. disposed off their -1.06% stake valued at $2,660,530,213 while BlackRock Fund Advisors cut theirs at $1,631,506,588. During the last quarter, T. Rowe Price Associates, Inc. liquidated -102,708 of its shares in Veeva Systems Inc. while BlackRock Fund Advisors sold -346,398 shares. The Artisan Partners LP’s holdings currently number 5,814,201 shares at $1561519962.57. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 4,839,159 shares, roughly $1,339,817,952.
VEEV Earnings Forecast For The Current Quarter
Veeva Systems Inc. [VEEV] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $380.23M and an earnings per share of $0.68 for Jan 2021. Looking further ahead, the company is expected to report revenue of $399.9M at an EPS of $0.73 for Apr 2021. The estimates represent upside of 18.60% and 9.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
VEEV Earnings Estimates For The Current Year
For the financial year, Veeva Systems Inc. [NYSE:VEEV] is expected to bring in revenue of $1.45B. The returns are nearly $350.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 2.84, higher than that of FY20 by $0.65. Estimates put this year’s earnings growth at 29.70%, 9.90% for the next, and at an annual 14.83% over the next 5-year period. As for sales, forecasts are for an increase of 31.20% in the current fiscal year and a further 18.60% over the following year.