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Evercore ISI Sticks to Their Hold Rating for Veeva Systems (VEEV)

Tipranks - Sat Mar 7, 6:14AM CST

In a report released yesterday, Kirk Materne from Evercore ISI maintained a Hold rating on Veeva Systems, with a price target of $240.00. The company’s shares closed yesterday at $196.06.

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Materne covers the Technology sector, focusing on stocks such as Salesforce, Microsoft, and Oracle. According to TipRanks, Materne has an average return of 5.6% and a 51.49% success rate on recommended stocks.

Currently, the analyst consensus on Veeva Systems is a Moderate Buy with an average price target of $268.62, a 37.01% upside from current levels. In a report released yesterday, TipRanks – Google also reiterated a Hold rating on the stock with a $203.00 price target.

Based on Veeva Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $835.95 million and a net profit of $244.2 million. In comparison, last year the company earned a revenue of $720.89 million and had a net profit of $195.63 million

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