Analyst Stan Berenshteyn from Wells Fargo reiterated a Buy rating on Veeva Systems (VEEV – Research Report) and keeping the price target at $285.00.
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Stan Berenshteyn’s rating is based on the strategic advantages of Veeva Systems’ platform, which is particularly noted for its interoperability. This feature allows for efficiency gains and helps sustain growth in wallet share as it reduces IT support costs and enhances trial operations. Veeva’s ability to integrate its suite of services, such as eTMF, EDC, and CTMS, provides substantial value to large pharmaceutical companies dealing with complex data management challenges across numerous trials and sites.
Additionally, Veeva’s partnerships with six of the top seven CROs position it to capitalize on the increasing tendency of smaller biotechs to choose CRO-preferred software vendors, thereby benefiting from incremental growth through this channel. Despite competition from Oracle and Medidata, Veeva’s comprehensive and well-integrated modules support its competitive edge. Furthermore, potential AI advancements could further enhance trial efficiency, positioning Veeva to leverage these opportunities effectively.