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RBC Capital Thinks Veeva Systems’ Stock is Going to Recover

RBC Capital analyst Rishi Jaluria maintained a Buy rating on Veeva Systems (VEEVResearch Report) on May 24 and set a price target of $250.00. The company’s shares closed last Wednesday at $161.42, close to its 52-week low of $152.04.

According to TipRanks.com, Jaluria is a 2-star analyst with an average return of 0.8% and a 42.5% success rate. Jaluria covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and Duck Creek Technologies.

Veeva Systems has an analyst consensus of Moderate Buy, with a price target consensus of $242.81.

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Based on Veeva Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $485 million and net profit of $97.1 million. In comparison, last year the company earned revenue of $397 million and had a net profit of $103 million.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VEEV in relation to earlier this year. Last month, Ronald Codd, a Director at VEEV sold 20,000 shares for a total of $4,142,742.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2007 and headquartered in California, Veeva Systems, Inc. is a leader in cloud-based software for the global life sciences industry. Its solutions are focused on pharmaceutical and life sciences industry applications.

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