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 position and future potential. Despite some minor concerns about customer conversions to Vault CRM, Becker views the market’s reaction as an overreaction. He believes that the competitive noise in the CRM sector is not a significant threat to Veeva’s long-term goals, as this segment contributes less to the company’s overall revenue.
Moreover, Becker emphasizes Veeva’s robust momentum across its commercial and R&D offerings, which positions the company well to achieve its ambitious revenue target of $6 billion by 2030. He is confident in Veeva’s ability to deliver exceptional operating profit and free cash flow margins, reinforcing his positive outlook and justifying the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $305.00 price target.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VEEV in relation to earlier this year.