Veeva Systems (VEEV) PT Raised at TD Cowen; '2Q Raise Suggests Strong Continued Momentum'

TD Cowen analyst Charles Rhyee raised the price target on Veeva Systems (NYSE: VEEV) to $283.00 (from $235.00) while maintaining a Buy rating.

The analyst commented: "2Q Raise Suggests Strong Continued Momentum; F2Q beat/raise suggest F1H momentum likely persists through FY27. 19% Y/Y normalized billings growth provides evidence of underlying demand and improving visibility. CRM now has 12 Top 20 Vault CRM commits (two remain uncommitted). Momentum in R&D continued, with 19% rev growth (vs. cons. of 17%). VEEV also unveiled Aspen CRM (horizontal CRM), which is priced at half of competitor CRM prices."

You May Also Be Interested In

• Yamazaki Baking (2212:JP) PT Lowered to JPY4,100 at UBS
• Morgan Stanley Starts Amplifon SpA (AMP:IM) (AMFPF) at Overweight
• Jefferies Starts Aclara Resources Inc (ARA:CN) at Hold