Analyst Ryan MacDonald from Needham reiterated a Buy rating on Veeva Systems and keeping the price target at $355.00.
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Ryan MacDonald has given his Buy rating due to a combination of factors, primarily focusing on Veeva Systems’ robust product portfolio and strategic initiatives. The company’s management has reaffirmed their confidence in achieving their 2030 targets, which are supported by the diverse range of products that are expected to drive growth.
Furthermore, the introduction of AI agents and the expansion into new markets are anticipated to contribute significantly to Veeva’s future performance, even though these factors are not yet included in the 2030 projections. This potential for additional growth, alongside the company’s consistent execution, leads MacDonald to maintain a positive outlook on Veeva Systems, viewing the 2030 targets as not only achievable but potentially conservative.
According to TipRanks, MacDonald is a 4-star analyst with an average return of 3.9% and a 45.58% success rate. MacDonald covers the Technology sector, focusing on stocks such as Duolingo, Liveperson, and Yext.
In another report released today, Barclays also maintained a Buy rating on the stock with a $325.00 price target.