Veeva price target raised to $355 from $300 at Needham

Needham raised the firm’s price target on Veeva (VEEV) to $355 from $300 and keeps a Buy rating on the shares. The CRM migration continues to be the key topic of discussion as Veeva importantly got two top 20 customers live in their first regions and received commitments from an additional top 20 pharma customers, the analyst tells investors in a research note. Needham adds that it remains a buyer of shares on the weakness as it is still confident in Veeva’s ability to maintain dominant CRM share during the transition.