Veeva Systems Inc (VEEV) is Reiterated by Needham to Buy, Raises Price Target to $ 43

Veeva Systems Inc (VEEV) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 43 from a previous price target of $38 . Needham advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Veeva Systems Inc. BofA/Merrill Initiated Veeva Systems Inc on Jun 17, 2016 to “Neutral”, Price Target of the shares are set at $40.

On the company’s financial health, Veeva Systems Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 30, 2016. Analyst had a consensus of $0.13. The company had revenue of $131.30 million for the quarter, compared to analysts expectations of $126.52 million. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Veeva Systems Inc closed down -0.14 points or -0.36% at $38.67 with 14,99,638 shares getting traded on Monday. Post opening the session at $38.89, the shares hit an intraday low of $38.6 and an intraday high of $39.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 10, 2016, Gordon Ritter (director) sold 19,200 shares at $38.30 per share price. According to the SEC, on Aug 8, 2016, Matthew J Wallach (President) sold 84,000 shares at $37.69 per share price. On Aug 5, 2016, Jonathan Faddis (SVP, Gen. Counsel, Secretary) sold 500 shares at $37.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company’s industry cloud for life sciences consists of the solution sets: Veeva CRM its core customer relationship management solution and related solutions; Veeva Vault its regulated content management and collaboration solutions; Veeva Network its customer master data management solution and Veeva OpenKey its data and related services offerings. It provides updates to its software solutions three times per year. Updates are included in its subscription and are not subject to an additional fee. Upgrades are implemented by Veeva in its cloud computing environment such that when a new update is put into production the prior version is replaced. Veeva OpenKey customer data is available in Australia China France Italy the United Kingdom and the United States.

Veeva Systems Inc

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