Veeva has ‘meaningful’ Life Science head start over Salesforce, says Oppenheimer

After Salesforce (CRM) announced a T20 commitment from Takeda (TAK) for Life Sciences Cloud for Customer Engagement, Oppenheimer says that extrapolating current commitments – namely Veeva’s (VEEV) four to Salesforce’s two – would imply about 67% share for Veeva, which is still within investor expectations of about 60%. Veeva already has a product in the market with over 50 customers live on Vault CRM and has also completed eight Vault CRM migrations, while Veeva expects to have its first T20 customer migrated by year-end, so it has “a meaningful head start,” says the analyst, who has an Outperform rating and $280 price target on Veeva shares.