Recent exceptional negative changes in investment behavior have affected Veeva Systems Inc (NYSE: VEEV): the stock’s recent price decline challenged its longer term uptrend, its shorter term price trend turned down, its longer term price trend turned down, and negative upside/downside volume developed.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
VEEV’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Veeva Systems has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Veeva Systems has a slightly negative Appreciation Score of 34 but a good Power Rating of 70, and the Neutral Value Trend Rating results.
Recent Price Action
Veeva Systems Inc (NYSE: VEEV) stock closed at $198.38 on 4/19/24 after a slight decline of -0.6%. However, this decline was accompanied by below average trading volume at 74% of normal. The stock has been strong relative to the market over the last nine months but has declined -6.1% during the last week.
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