William Blair analyst Dylan Becker has maintained their bullish stance on VEEV stock, giving a Buy rating today.
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Dylan Becker has given his Buy rating due to a combination of factors that highlight Veeva Systems’ strong financial performance and strategic positioning. The company reported impressive second-quarter results, surpassing market expectations with a 17% growth in both total and subscription revenues, and maintaining robust operating margins of 45%. This financial strength underscores Veeva’s status as a leader in its field.
Furthermore, Becker points to Veeva’s ongoing business momentum, evidenced by significant customer acquisitions, including commitments from nine of the top 20 pharmaceutical companies to transition to Veeva’s new Vault CRM platform. Despite some billing seasonality, the company’s annual guidance of 14% overall growth and 16% subscription growth reflects its solid market position. Becker sees Veeva as a top-tier asset poised for continued growth, especially as the life sciences industry increasingly embraces digital solutions, with Veeva targeting a $6 billion revenue run-rate by 2030.
Becker covers the Technology sector, focusing on stocks such as Unity Software, Blend Labs, and Samsara. According to TipRanks, Becker has an average return of 12.0% and a 62.15% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $355.00 price target.