Veeva Systems Inc (VEEV): A Technical Analysis

Veeva Systems Inc (NYSE: VEEV) has a higher price-to-earnings ratio of 67.28x compared to its average ratio. VEEV has 36-month beta value of 0.73. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 4 as “overweight,” 6 as “hold,” and 0 as “sell.”

The public float for VEEV is 146.90M, and currently, short sellers hold a 1.68% ratio of that float. The average trading volume of VEEV on April 03, 2024 was 959.89K shares.

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VEEV) stock’s latest price update

Veeva Systems Inc (NYSE: VEEV)’s stock price has dropped by -6.07 in relation to previous closing price of 230.39. Nevertheless, the company has seen a loss of -5.67% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-02 that The Zacks Internet software industry participants like Meta Platforms (META), Veeva Systems (VEEV) and BILL Holdings (BILL) are benefiting from high demand for SaaS due to the increasing need for remote working, learning and diagnosis software, as well as cybersecurity applications.

VEEV’s Market Performance

Veeva Systems Inc (VEEV) has experienced a -5.67% fall in stock performance for the past week, with a -2.52% drop in the past month, and a 12.41% rise in the past quarter. The volatility ratio for the week is 1.78%, and the volatility levels for the past 30 days are at 1.95% for VEEV. The simple moving average for the last 20 days is -5.74% for VEEV’s stock, with a simple moving average of 7.27% for the last 200 days.

Analysts’ Opinion of VEEV

Many brokerage firms have already submitted their reports for VEEV stocks, with Wells Fargo repeating the rating for VEEV by listing it as a “Overweight.” The predicted price for VEEV in the upcoming period, according to Wells Fargo is $229 based on the research report published on October 25, 2023 of the previous year 2023.

Jefferies, on the other hand, stated in their research note that they expect to see VEEV reach a price target of $265. The rating they have provided for VEEV stocks is “Buy” according to the report published on October 13th, 2023.

Morgan Stanley gave a rating of “Underweight” to VEEV, setting the target price at $181 in the report published on June 28th of the previous year.

VEEV Trading at -2.02% from the 50-Day Moving Average

After a stumble in the market that brought VEEV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -8.65% of loss for the given period.

Volatility was left at 1.95%, however, over the last 30 days, the volatility rate increased by 1.78%, as shares sank -4.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.47% upper at present.

During the last 5 trading sessions, VEEV fell by -5.67%, which changed the moving average for the period of 200-days by +11.33% in comparison to the 20-day moving average, which settled at $229.10. In addition, Veeva Systems Inc saw 12.41% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at VEEV starting from Cabral Timothy S, who sale 15,000 shares at the price of $226.04 back on Mar 07 ’24. After this action, Cabral Timothy S now owns 23,391 shares of Veeva Systems Inc, valued at $3,390,657 using the latest closing price.

Wallach Matthew J, the Director of Veeva Systems Inc, sale 5,000 shares at $203.43 during a trade that took place back on Feb 05 ’24, which means that Wallach Matthew J is holding 104,025 shares at $1,017,147 based on the most recent closing price.

Stock Fundamentals for VEEV

Current profitability levels for the company are sitting at:

  • 0.18 for the present operating margin
  • 0.71 for the gross margin

The net margin for Veeva Systems Inc stands at 0.22. The total capital return value is set at 0.09. Equity return is now at value 12.58, with 9.81 for asset returns.

Based on Veeva Systems Inc (VEEV), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 16.34. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -14.19.

Currently, EBITDA for the company is 466.48 million with net debt to EBITDA at -1.4. When we switch over and look at the enterprise to sales, we see a ratio of 14.5. The receivables turnover for the company is 2.66for trailing twelve months and the total asset turnover is 0.4. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.24.

Conclusion

To put it simply, Veeva Systems Inc (VEEV) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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