Veeva Systems, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Alexei Gogolev from J.P. Morgan maintained a Buy rating on the stock and has a $330.00 price target.
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Alexei Gogolev has given his Buy rating due to a combination of factors that highlight Veeva Systems’ strong position and growth potential in the Life Sciences industry. Veeva’s comprehensive cloud solutions are tailored for the Life Sciences sector, and the company has managed to capture approximately 14% of a $20 billion addressable market. This market is expected to continue growing, providing ample opportunities for Veeva to expand its market share.
Veeva’s revenue is projected to grow at a compound annual growth rate of 13% over the next three years, supported by its competitive platform and strategic partnerships, such as the one with IQVIA. Additionally, the company’s implementation of Agentic AI is expected to enhance industry efficiency and drive further growth. Veeva’s strong financial position, with a significant cash reserve, and its efficient cost structure contribute to high free cash flow margins, making it a compelling investment opportunity. These factors, combined with a favorable industry shift towards digital solutions, underpin Gogolev’s optimistic outlook and the Buy rating for Veeva Systems.
In another report released on September 5, Raymond James also reiterated a Buy rating on the stock with a $340.00 price target.