TD Cowen analyst Charles Rhyee raised the firm’s price target on Veeva to $192 from $180 and keeps a Hold rating on the shares. The firm said its Q2 results reflect how the company is executing in continued challenging macro backdrop. Cowen said while it is encouraging the company has seen continued customer additions/expansions, they think the Vault migration timeline may limit near-term uptake on non-CRM commercial solutions.
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