SVB Leerink has decided to maintain its Outperform rating of Veeva Sys VEEV and lower its price target from $268.00 to $242.00.
Shares of Veeva Sys are trading down 15.26% over the last 24 hours, at $168.91 per share.
A move to $242.00 would account for a 43.28% increase from the current share price.
About Veeva Sys
Veeva is a leading supplier of software solutions for the life sciences industry. The company's best-of-breed offering addresses operating and regulatory requirements for customers ranging from small, emerging biotechnology companies to departments of global pharmaceutical manufacturers. The company leverages its domain expertise and cloud-based platform to improve the efficiency and compliance of the underserved life sciences industry, displacing large, highly customized and dated enterprise resource planning systems that have limited flexibility. As the vertical leader, Veeva innovates, increases wallet share at existing customers, and expands into other industries with similar regulations, protocols, and procedures, such as consumer goods, chemicals, and cosmetics.
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