Veeva price target raised to $330 from $285 at RBC Capital

RBC Capital raised the firm’s price target on Veeva (VEEV) to $330 from $285 and keeps an Outperform rating on the shares. The company reported a “strong” Q1 earnings beat and raise, and the firm was pleased to see continued subscription growth with healthy billings against consensus, the analyst tells investors in a research note. Veeva’s execution during the quarter in Commercial and Vault CRM migrations continue to give RBC confidence in the management’s ability to execute in an uncertain macro environment, the firm added.