Veeva price target lowered to $262 from $275 at Truist

Truist lowered the firm’s price target on Veeva (VEEV) to $262 from $275 and keeps a Buy rating on the shares. The company delivered a solid Q4 result, including billings, and issued guidance that was ahead of consensus across the board, the analyst tells investors in a research note. Veeva’s macro visibility has improved in some areas, though the guidance assumes no major macro shifts and instead reflects customer planning cycles, the firm adds.