BTIG Starts Veeva Systems (VEEV) at Buy

BTIG analyst David Larsen initiates coverage on Veeva Systems (NYSE: VEEV) with a Buy rating and a price target of $240.00.

The analyst said: "We like how VEEV's cloud-based solutions are part of a robust platform that has a range of clinical and commercial capabilities. Its customer relationship management (CRM) is specifically built for life sciences and is seen as the industry standard by companies within pharma and biotech, and VEEV is expanding into medical devices, diagnostics, and beyond. VEEV's extensive suite of offerings spans cloud software, data, and business consulting, and it helps biopharma companies with some of their most challenging and critical functions, including developing and bringing products to market faster and more efficiently, marketing and selling more effectively, and maintaining compliance with government regulations. VEEV has over 1,400 customers, including the vast majority of the largest biopharma companies. Veeva has two strong revenue streams between Commercial Solutions, which includes VEEV's commercial, data, and claims solutions, which grew +9% y/y in F1Q:25, and R&D Solutions, which includes its development, regulatory, and quality solutions, which grew +41% y/y, in F1Q:25. We are impressed that VEEV has maintained ~10%+ y/y revenue growth despite its size and macro uncertainties, and we expect growth to ramp up as headwinds start to ease."

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Shares of Veeva Systems closed at $182.89 yesterday.

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