Oppenheimer Reiterates Outperform Rating on Veeva Systems (VEEV)

Oppenheimer analyst Ken Wong reiterated an Outperform rating and $230.00 price target on Veeva Systems (NYSE: VEEV).

The analyst commented: "We hosted a call with a top-tier Salesforce Summit integrator, and long-time Veeva implementation partner to discuss takeaways from Dreamforce and recent customer feedback. Our speaker believes Salesforce presents a compelling vision, but without a product in the market it's difficult for customers to properly evaluate both solutions. The partner predicts long-term CRM market share could be more balanced (60/40, 55/45 in favor of Veeva) should Salesforce execute on its vision. Both companies have early adopters/preliminary commits and the industry will be watching the outcomes closely. With customers prioritizing vendor consolidation, Veeva's end-to-end stack across Commercial and Clinical should prove advantageous. The partner sees potential for Compass and EDC to see broader long-term adoption."

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 $211.04 yesterday.

You May Also Be Interested In

• Barclays Downgrades Travelers (TRV) to Underweight
• Lucid Capital Markets Starts Core Scientific Inc. (CORZ) at Buy
• Barclays Starts AIR Global (AIIR) at Overweight