Morgan Stanley Sees Veeva Systems Firing On All Cylinders With Q2 Beat

In a report published Friday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Overweight rating and $40.00 price target on

. In the report, Morgan Stanley noted, “Q2 beat on all metrics as billings accelerated, subs.rev. beat by 9%, and FY15 rev. guidance moves 8% higher. We believe VEEV is executing cleanly and on track to become a dominant vendor in life sciences IT, and we see more strong performance to come. Reit. OW and $40 target.” Veeva Systems closed on Thursday at $24.96.