Needham analyst Ryan MacDonald reiterated a Buy rating on Veeva Systems (VEEV – Research Report) today and set a price target of $300.00.
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Ryan MacDonald has given his Buy rating due to a combination of factors including Veeva Systems’ strong performance at the beginning of FY26, which has enabled the company to increase its guidance across all areas. Despite recent competitive pressures from Salesforce, particularly with their acquisition of Takeda for CRM, Veeva is successfully transitioning its customers to its Vault platform, with over 200 expected to be operational by the company’s summit next spring.
Furthermore, Veeva’s management is optimistic about regaining clients who may find custom solutions from competitors like Salesforce too expensive. In addition to this, Veeva’s other business segments, such as Crossix and various components of their R&D suite, are performing exceptionally well, contributing to the company’s overall strong results. These factors, combined with the belief that any negative news from competitors may actually present additional buying opportunities, support the decision to maintain a positive outlook on Veeva’s long-term strategy.
In another report released today, Barclays also maintained a Buy rating on the stock with a $300.00 price target.