Stifel Nicolaus analyst David Grossman has maintained their bullish stance on VEEV stock, giving a Buy rating on September 19.
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David Grossman has given his Buy rating due to a combination of factors that highlight Veeva Systems’ strong market position and growth potential. One significant factor is Veeva’s success in securing commitments from major pharmaceutical companies for its Vault CRM platform, including recent commitments from Bristol Myers Squibb and Gilead Sciences. This trend indicates Veeva’s growing influence and capability in converting industry leaders to its platform.
Additionally, Veeva’s strategy to introduce AI agents for Vault CRM by the end of 2025 is seen as a key differentiator that could enhance its competitive edge. The company’s roadmap suggests that a substantial number of migrations to Vault CRM will be completed by FY27, with expectations of increased customer adoption. These developments, along with the anticipated completion of Salesforce’s Health Cloud CRM specifications, position Veeva favorably for future growth, justifying the Buy rating.
According to TipRanks, Grossman is a 4-star analyst with an average return of 7.9% and a 54.49% success rate. Grossman covers the Technology sector, focusing on stocks such as Accenture, Paychex, and Epam Systems.
In another report released on September 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $317.00 price target.