Piper Sandler analyst Brent Bracelin raised the firm’s price target on Veeva to $220 from $200 and keeps an Overweight rating on the shares. The firm enters 2024 with a higher degree of optimism for application software based on stabilizing demand fundamentals after two years of moderation, a declining interest rate backdrop sparking greater appetite for growth stocks, new secular tailwinds for cloud and data driven by a generational shift to AI, CIO survey optimism showing accelerating cloud and AI spending intentions, and favorable risk-reward scenarios on 2025 metrics.
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Read More on VEEV:
- Veeva price target lowered to $183 from $186 at TD Cowen
- Veeva price target lowered to $185 from $210 at Canaccord
- Veeva price target lowered to $213 from $220 at Barclays
- Veeva backs FY25 revenue view of ‘at least’ $2.75B, consensus $2.74B
- Veeva raises FY24 adjusted EPS view to about $4.76 from $4.68, consensus $4.70
