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UPDATE: Morgan Stanley Upgrades Veeva Systems

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On Wednesday, Morgan Stanley upgraded shares of Veeva Systems (NYSE: VEEV) from Equalweight to Overweight and maintained a $40 price target.

Analyst Jennifer Lowe believes Veeva bears “underestimate the potential of products outside of Sales Force Automation (SFA), while SFA still has room to grow.”

Lowe estimates “~⅓rd of pharma sales reps use VEEV today, and sees potential for the company to double that seat count over the next five years given that 2/3rds of the 50 largest pharma companies are already customers.”

Shares of Veeva are up 2.02 percent to $26.82 in Wednesday's trading.

Latest Ratings for VEEV

DateFirmActionFromTo
Nov 2019MaintainsEqual-Weight
Nov 2019MaintainsHold
Nov 2019MaintainsEqual-Weight

View More Analyst Ratings for VEEV
View the Latest Analyst Ratings

Posted-In: Jennifer Lowe Morgan StanleyAnalyst Color Upgrades Price Target Analyst Ratings

 

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