TD Cowen lowered the firm’s price target on Veeva to $183 from $186 and keeps a Market Perform rating on the shares. The firm said the quarter was largely consistent with guidance and commentary provided at its recent Analyst Day. The firm said the macro environment remains challenging and while the company has not seen the macro environment affect its Subscription revenues, Cwoen believes the main concern going forward will be the risk of macro impacts potentially spreading.
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