In a report released today, Craig Hettenbach from Morgan Stanley maintained a Sell rating on Veeva Systems (VEEV – Research Report), with a price target of $210.00.
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Craig Hettenbach has given his Sell rating due to a combination of factors impacting Veeva Systems. Despite the company’s strong performance in the recent quarter, including a notable increase in billings and revenue, there are underlying concerns about the broader market environment. Management has highlighted unease among customers due to uncertainties like tariffs and drug pricing regulations, which could lead to more conservative spending by large biopharma companies.
Additionally, while Veeva’s subscription model offers some insulation, the company is not entirely immune to the challenges facing the life sciences sector. Past revisions to sales estimates suggest vulnerabilities, and the potential for cutbacks in services and emerging biotech sectors could pose risks. These factors contribute to a cautious outlook, prompting the Sell recommendation.
According to TipRanks, Hettenbach is a 4-star analyst with an average return of 5.0% and a 55.69% success rate.