Veeva price target lowered to $210 from $220 at Canaccord

Canaccord analyst David Hynes lowered the firm’s price target on Veeva to $210 from $220 and keeps a Hold rating on the shares. The firm said they posted steady results but did cut its full- year revenue guidance by about $30M and billings by $35M, which was mostly attributable to services revenue and incremental FX headwinds but does also factor in a slightly softening macro environment.