In a report released yesterday, Stan Berenshteyn from Wells Fargo reiterated a Buy rating on Veeva Systems, with a price target of $333.00.
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Stan Berenshteyn has given his Buy rating due to a combination of factors that highlight Veeva Systems’ potential for growth and stability. The company’s valuation is currently at low levels, which, when combined with a strengthening product pipeline, presents a promising opportunity for investors. Despite concerns about CRM retention, the impact is expected to be neutral on free cash flow, and Veeva’s management has reaffirmed its long-term growth targets, which have historically been achieved ahead of schedule.
Furthermore, Veeva is set to begin monetizing its AI solutions in 2027, which is anticipated to enhance its revenue streams. The company’s billings guidance has been raised, indicating accelerated growth, supported by a robust product portfolio and strategic partnerships. These factors contribute to the revised price target of $333, reflecting confidence in Veeva’s ability to capitalize on its market position and future opportunities.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $319.00 price target.