Analyst Craig Hettenbach of Morgan Stanley maintained a Hold rating on Veeva Systems, boosting the price target to $215.00.
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Craig Hettenbach has given his Hold rating due to a combination of factors including strong recent execution but lingering uncertainties around future growth drivers. Veeva delivered better‑than‑expected quarterly results, with revenue, billings, and earnings all surpassing consensus, and management issued guidance for the coming quarter and fiscal year that is modestly above Street forecasts, which should support near‑term sentiment.
At the same time, Hettenbach sees the longer‑term story as more balanced, as investors still need clearer evidence that Veeva can translate its domain strength in life sciences into tangible gains in AI and subscription growth. With competitive dynamics versus Salesforce not materially updated and a key Investor Day later in the year expected to provide crucial proof points, he views the current share price as largely reflecting the available information, warranting a neutral, or Hold, stance.
According to TipRanks, Hettenbach is ranked #2963 out of 12083 analysts.
In another report released today, TipRanks – Anthropic also downgraded the stock to a Hold with a $205.00 price target.