Veeva price target raised to $250 from $232 at KeyBanc

KeyBanc raised the firm’s price target on Veeva to $250 from $232 and keeps an Overweight rating on the shares following quarterly results. While the company’s Q1 billings guidance came in slightly lighter than expectations, its 2025 guidance was in line, with lower 2025 revenue contribution due to project timing related to Vault CRM with some of its largest customers. That said, Veeva’s increased margin guidance reflects improved efficiencies in product development, disciplined hiring, and performance management, KeyBanc adds.