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Investing.com - UBS raised its price target on Veeva Systems (NYSE:VEEV) to $310.00 from $285.00 on Thursday, while maintaining a Neutral rating on the stock. The company, currently valued at $45.74 billion, has shown impressive momentum with a 47% return over the past year. According to InvestingPro analysis, the stock is trading near its Fair Value, with 14 key insights available to subscribers.
The price target increase follows Veeva’s second-quarter earnings report, which showed revenue beating expectations by $20 million, representing a 2.6% surprise compared to analyst forecasts.
UBS noted that while Veeva delivered solid results, the performance wasn’t as impressive as the first quarter, which had featured unexpectedly strong 17% revenue growth and 16% billings growth.
The research firm highlighted Veeva’s encouraging full-year guidance raise for both revenue and billings, which signals a strong fourth quarter ahead for the cloud software provider to the life sciences industry.
Despite the positive outlook, UBS maintained its Neutral stance on Veeva shares, citing the stock’s current valuation at 27 times calendar year 2026 free cash flow as a limiting factor for further upside.
In other recent news, Veeva Systems has reported impressive financial performance, prompting several analyst firms to raise their price targets for the company. Veeva’s quarterly results included a $22 million revenue beat, surpassing the company’s guidance midpoint by approximately 3%, and a 17% year-over-year revenue growth to $789.1 million, exceeding expectations of $768 million. Earnings per share also grew 22% year-over-year, beating estimates by 5%, with a reported EPS of $1.99 against a consensus of $1.90. Piper Sandler raised its price target to $355, maintaining an Overweight rating, while Stifel increased its target to $320, keeping a Buy rating. TD Cowen set a new target of $297, citing strength in Veeva’s Crossix Audience segment and improved subscription growth. Evercore ISI adjusted its target to $295, noting the company’s solid earnings report despite billings falling slightly short of expectations. Raymond James raised its target to $340, highlighting Veeva’s progress with key initiatives and significant wins among top pharmaceutical companies. These developments reflect the company’s strong market position and potential for continued growth.
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