Barclays analyst Saket Kalia lowered the firm’s price target on Veeva to $220 from $250 and keeps an Overweight rating on the shares. Veeva hosted its annual analyst day and trimmed fiscal 2024 and 2025 revenue largely in the services business, leaving the EBIT guide unchanged, the analyst tells investors in a research note. The firm walked away feeling this is cyclical not structural.
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