Hansen, Mueller Industries director, sells $105,710 in stock
Investing.com - UBS maintained its Neutral rating and $310.00 price target on Veeva Systems (NYSE:VEEV) following the company’s annual Investor Day event. According to InvestingPro data, the stock is currently trading near its 52-week high of $310.50, with a strong financial health score of 3.5/5 ("GREAT").
The life sciences software provider hosted a webcast-only Investor Day that lacked material new disclosures on financial or product fronts, unlike last year’s event when the company announced new CY30 revenue targets and plans to expand beyond life sciences.
Veeva Systems reaffirmed it remains on track to achieve its CY30 target of $6 billion, representing approximately 13% revenue CAGR, according to UBS’s analysis of the presentation.
The company also pre-announced that it will meet or exceed guidance across all metrics for the third quarter ending October, providing some positive news for investors despite the lack of major announcements.
Veeva announced a partnership with OpenEvidence to create and market an AI product for clinical trials, though UBS maintained its Neutral stance based on the stock’s current valuation at 28x CY26E FCF.
In other recent news, Veeva Systems has been in the spotlight with several significant developments. TD Cowen raised its price target for Veeva Systems to $68, maintaining a Buy rating, and expects the company’s annual recurring revenue to grow by 19% year-over-year for the third quarter of fiscal year 2025. Needham also reiterated a Buy rating, emphasizing Veeva’s potential in AI and confidence in meeting or exceeding future guidance. Additionally, Veeva announced a long-term partnership with OpenEvidence to develop an AI platform called Open Vista, aimed at enhancing clinical trial access and drug discovery. Veeva plans to roll out AI agents across its applications starting in December 2025, targeting specific use cases within the life sciences industry. In a related development, Bristol Myers Squibb has committed to using Veeva’s Vault CRM platform to improve healthcare practitioner engagement with AI-enhanced technology. These initiatives highlight Veeva’s strategic focus on AI integration and partnerships to drive growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.