Veeva price target raised to $245 from $220 at Piper Sandler

Piper Sandler raised the firm’s price target on Veeva to $245 from $220 and keeps an Overweight rating on the shares. Fiscal 2025 feels like another year of “accounting optics jail” for Veeva after contract terms changes in fiscal 2024 distort year over year growth metrics, the analyst tells investors in a research note. The firm was “pleasantly surprised” by the profit outlook, but did not get the growth guidance it had hoped for, it says.