Veeva price target raised to $251 from $245 at Baird

Baird raised the firm’s price target on Veeva to $251 from $245 and keeps an Outperform rating on the shares. The firm said they posted a better update than headlines reveal as guidance entails lower revenue forecast than preliminary views; and billings below estimates with variances relating to Services performance and Veeva investing in Vault CRM migrations at largest customers.