Veeva price target raised to $260 from $220 at Needham

Needham raised the firm’s price target on Veeva to $260 from $220 and keeps a Buy rating on the shares. The company’s Q4 results “modestly” beat estimates, though FY25 topline guidance was below expectations due to soft services demand stemming from ongoing macro pressures, which creates a temporary headwind, the analyst tells investors in a research note. The strong margin expansion implied in the FY25 guidance underscores the “highly efficient nature” of Veeva platform however, the firm added.