Veeva price target raised to $285 from $275 at RBC Capital

RBC Capital raised the firm’s price target on Veeva (VEEV) to $285 from $275 and keeps an Outperform rating on the shares. The company reported a good beat-and-raise quarter, and while the firm expected this outcome following guidance reaffirmation at the investor day, RBC was still pleased to see full year revenue, subscription revenue, and billings guidance being raised, the analyst tells investors in a research note. Veeva executed well across the board with strong Commercial momentum amidst an unchanged macro environment, the firm added.