Veeva price target raised to $340 from $335 at BTIG

BTIG raised the firm’s price target on Veeva (VEEV) to $340 from $335 and keeps a Buy rating on the shares after its better than expected Q2 results. Both sides of the business – Commercial and R&D segments – are growing nicely, with Subscription revenue of $659.2M up 17% y/y and Services revenue up 13% y/y, and the firm’s view is that Veeva continues to dominate both Commercial and R&D Technology solutions within the bio-pharma industry, the analyst tells investors in a research note.