Is Veeva Systems Inc. (NYSE:VEEV) Attractive at $141.83?

Veeva Systems Inc. (NYSE:VEEV) shares have traded -2.08% for the week and are 58.79% so far this year. At the time of writing, the stock is checking in at $141.83, a change of -3.66% from the previous close. In terms of volatility, the average daily high/low percentage range sits at 3.05% for the week and 3.30% for the past month. 

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Most importantly investors are concerned with where are shares headed from here. In order to get a good sense of Wall Street sentiment, we can look to brokerage firm estimates. On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. Veeva Systems Inc. currently has an average analyst recommendation of 2.1 according to the analysts polled. This is the average number based on the total analyst ratings taken into consideration by Beta Systems Research. The same analysts have a future one-year price target of $175.63 on the stock.

At the time of writing, the 14-day ADX for Veeva Systems Inc. (NYSE:VEEV) is 22.4. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Presently, Veeva Systems Inc. (NYSE:VEEV)’s Williams Percent Range or 14 day Williams %R is resting at -81.19. Values can range from 0 to -100. A reading between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.

When performing stock analysis, investors and traders may opt to view technical levels. Veeva Systems Inc. (NYSE:VEEV) presently has a 14-day Commodity Channel Index (CCI) of -69.38. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory.

Checking in on moving averages, the 200-day is at 143.47, the 50-day is 151.05, and the 7-day is sitting at 145.29. Moving averages may be used by investors and traders to shed some light on trading patterns for a specific stock. Moving averages can be used to help smooth information in order to provide a clearer picture of what is going on with the stock. Technical stock analysts may use a combination of different time periods in order to figure out the history of the equity and where it may be headed in the future. MA’s can be calculated for any time period, but two very popular time frames are the 50-day and 200-day moving averages.

Shifting gears to the Relative Strength Index, the 14-day RSI is currently sitting at 41.44, the 7-day is 37.05, and the 3-day is currently at 25.46 for Veeva Systems Inc. (NYSE:VEEV). The Relative Strength Index (RSI) is a highly popular momentum indicator used for technical analysis. The RSI can help display whether the bulls or the bears are currently strongest in the market. The RSI may be used to help spot points of reversals more accurately. The RSI was developed by J. Welles Wilder. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading under 30 would indicate oversold conditions. As always, the values may need to be adjusted based on the specific stock and market. RSI can also be a valuable tool for trying to spot larger market turns.

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