Veeva price target raised to $203 from $187 at Truist

Truist analyst Jailendra Singh raised the firm’s price target on Veeva to $203 from $187 and keeps a Hold rating on the shares. The company’s Q4 results were ahead of guidance and consensus expectations, though the management also slightly lowered its FY25 revenue guidance driven by services and to a lesser extent by deal timing which impacts revenue linearity, the analyst tells investors in a research note. Veeva’s FY25 adjusted EBIT outlook was raised, driven by improved efficiencies in product development and disciplined hiring, the firm added.