Veeva Announces Fiscal 2025 Second Quarter Results

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Veeva Systems (VEEV) PT Raised to $220 at Evercore ISI

August 29, 2024 5:35 AM EDT

Evercore ISI analyst Kirk Materne raised the price target on Veeva Systems (NYSE: VEEV) to $220.00 (from $200.00) while maintaining a In Line rating.

The analyst comments "Veeva delivered strong F2Q results with total revenue of $676.2mn (+15% y/y), above our/Street estimates of $667.5mn/$667.8mn and EPS of $1.62 also above our/Street estimates of $1.53. Billings came in at $611mn (+11%) vs. expectations of $605.9mn due primarily to strong bookings in the quarter. Despite an uneven macro environment (no change since last quarter), subscription revenue and billings guidance was raised for 2H,... More