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Investing.com - Raymond James has reiterated an Outperform rating on Veeva Systems (NYSE:VEEV) with a price target of $310.00, highlighting GSK’s successful implementation of Vault CRM across Europe. The partnership marks a significant milestone for GSK, a prominent pharmaceutical player with a market capitalization of $80.35 billion and impressive gross margins of 71.7%.
The firm noted that GSK chose Veeva’s Vault CRM for three key reasons: a desire to continue working with a trusted vendor, viewing pharma CRM as a solved problem, and seeking the quickest route to AI implementation.
Raymond James emphasized that GSK’s AI roadmap consideration is particularly significant, as pharmaceutical customers increasingly factor AI capabilities into their CRM decisions, an area where Salesforce has been prominent in messaging.
GSK completed its European implementation of Vault across both medical and commercial divisions on time and on budget, with zero field downtime, according to Veeva’s LinkedIn announcement.
The successful large-scale deployment represents a milestone for Veeva, as GSK becomes a top 20 pharmaceutical reference customer, while Raymond James notes Salesforce likely won’t have a comparable reference customer live until around 2029.
In other recent news, GSK reported stronger-than-expected earnings for the second quarter of 2025. The company posted an earnings per share (EPS) of $1.24, surpassing the anticipated $1.18, which marks a 5.08% surprise. Revenue also exceeded expectations, coming in at $10.64 billion compared to the projected $10.58 billion. These results reflect positive investor sentiment. No recent analyst upgrades or downgrades were reported for GSK. The company’s financial performance in this quarter demonstrates its ability to exceed market forecasts. GSK’s recent financial results are likely to be a point of interest for investors.
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