Morgan Stanley Sees Room to Grow for Veeva Systems

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

. In the report, Morgan Stanley noted, “Recent management meetings underscore our belief that VEEV still has room to grow in Sales, while newer offerings like Vault and Network are expanding TAM. We rate the shares OW with a $40 target and view the recent pullback as a buying opportunity.” Veeva Systems closed on Wednesday at $24.14.