Raymond James analyst Brian Peterson has maintained their bullish stance on VEEV stock, giving a Buy rating yesterday.
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Brian Peterson has given his Buy rating due to a combination of factors that highlight Veeva Systems’ strategic positioning and growth potential. A significant reason for this positive outlook is Veeva’s recent achievement in securing a commitment from Gilead Sciences, a top 20 pharmaceutical company, for its Vault CRM product. This endorsement not only reinforces the credibility of Veeva’s offerings but also accelerates its momentum in the competitive CRM landscape.
Furthermore, Veeva’s ability to establish itself as a preferred partner in the CRM space, especially as Salesforce prepares to launch its own product, underscores its innovative edge. The company’s focus on providing tailored solutions with embedded verticalized agents is seen as a strategic advantage, ensuring continued innovation and customer satisfaction within the life sciences sector. These factors collectively contribute to the confidence in Veeva’s future performance, justifying the Buy rating.
According to TipRanks, Peterson is a 5-star analyst with an average return of 10.2% and a 54.02% success rate. Peterson covers the Technology sector, focusing on stocks such as Manhattan Associates, ServiceTitan, Inc. Class A, and Paylocity.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $321.00 price target.