Wells Fargo analyst Stan Berenshteyn lowered the firm’s price target on Veeva (VEEV) to $333 from $341 and keeps an Overweight rating on the shares. The firm cites lower comparable multiples, offset somewhat by raised estimates. Despite the decremental optics from more CRM takeaways, Veeva’s product-led growth narrative is strengthening with valuation near trough levels, Wells adds.
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