Raymond James on Veeva Systems (VEEV): 'we think the announcements suggest a potential turning point for Veeva'

Raymond James analyst Brian Peterson reiterated an Outperform rating and $340.00 price target on Veeva Systems (NYSE: VEEV).

The analyst comments "We’re providing perspective on new data points coming out of Veeva’s Summit industry conference in Boston (closed to sell side analysts), where several publications reported (articles here and here) on the road map across the R&D side of the business. Product efforts include infusing agentic functionality into the Vault platform, leveraging emerging Model Context Protocol (MCP) to drive interoperability and automate repetitive tasks like translation and medical coding. CEO Peter Gassner emphasized that Veeva will continue to drive standardization across life sciences apps, with ongoing investments even in more mature solutions across Clinical and Quality. As part of VEEV's commitment to continued innovation, the company communicated its goal to improve clinical productivity across life sciences by 20% by 2030. We suspect that Veeva will be viewed as a partner of choice as pharmas look to modernize their highly configured tech stacks, with Merck’s “zero gravity” program offering another marquee example of Top 20 standardization. Under this initiative, Merck has migrated its clinical trials to Veeva CTMS, unifying on Veeva after years of using heavily customized systems and manual processes. Reports also discussed a mid-sized biotech adopting Veeva’s Clinical suite, going live with eTMF, CTMS, EDC, and Site Connect in 18 months, with compliance levels now surpassing 80%. In addition, 11 top 20 biopharmas have now adopted Veeva Site Connect, up from just seven in September 2024. All in, we think the announcements suggest a potential turning point for Veeva as a louder voice in the AI debate in life sciences and provide context around commentary that customers are increasingly making more strategic, suite-wide decisions."

For an analyst ratings summary and ratings history on Veeva Systems click here. For more ratings news on Veeva Systems click here.

Shares of Veeva Systems closed at $270.06 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results