Veeva price target lowered to $317 from $333 at Wells Fargo

Wells Fargo analyst Stan Berenshteyn lowered the firm’s price target on Veeva (VEEV) to $317 from $333 and keeps an Overweight rating on the shares. The firm says sentiment appears dictated by three debates, namely net impact of AI, R&D growth cadence and CRM revenue stability net churn / upsells. Market appears skeptical across all three, placing Veeva in a “show me” position despite a solid Q4, Wells adds. The firm says it is a buyer.