Morgan Stanley Expects Solid Q1 Results From Veeva Systems

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

. In the report, Morgan Stanley noted, “We expect VEEV to post strong results as demand for core SFA remains healthy and new products ramp. VEEV shares have traded down on TAM and lockup concerns as well as a broader pullback in the group, but we see the company as a strong executor with a sizeable opportunity. Reiterate OW and $40 PT.” Veeva Systems closed on Tuesday at $21.10.