UPDATE: KeyBanc Reinstates Veeva Systems (VEEV) at Overweight

KeyBanc reinstates coverage on Veeva Systems (NYSE: VEEV) with a Overweight rating and a price target of $332.00.

The analyst comments "We are initiating coverage of VEEV with an Overweight rating as an attractive way for investors to participate in the increasing adoption of cloud platform strategies by life sciences companies. We believe the next leg of growth for VEEV is in the clinical trial space, and early traction with large clients,e.g., Eli Lilly (LLY) and Alcon AG (ALC), gives us optimism. Also, we see VEEV benefiting from an accelerated shift to digital sales and marketing by its life sciences clients. Our PT of $332/share reflects 25x our CY22 revenue."

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 $268.57 yesterday.

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