Wells Fargo Raises Veeva (VEEV) Price Target, Maintains Outperform Rating

Veeva Systems Inc. (NYSE:VEEV) saw its price target lifted by Wells Fargo on May 29, as analyst Stan Berenshteyn raised the firm’s outlook to $300 from $285, while reaffirming an Overweight rating on the stock. Berenshteyn noted that while Veeva’s first-quarter earnings exceeded expectations—a result the firm had largely anticipated—the real surprise came from the company’s decision to raise full-year guidance. This revision, he said, signals management’s confidence in its financial footing and demand trajectory, even as clients grapple with persistent economic and policy headwinds.

A team of IT experts monitoring a network of computers managing the medical content and communications.

“The guidance raise was pleasantly surprising,” Berenshteyn wrote in a note to investors, adding that there has been no indication of slowing momentum in Veeva’s sales pipeline or financial performance. Veeva Systems Inc. (NYSE:VEEV), a leader in cloud-based software for the life sciences industry, has demonstrated consistent execution amid a backdrop of uncertainty that has left many tech companies cautious.

The firm’s ability to maintain stability while others scale back has drawn positive attention from analysts. Wells Fargo’s revised price target reflects increased confidence in Veeva’s resilience and market positioning, especially given the ongoing challenges facing its core client base. The company’s steady pipeline and unchanged financial outlook suggest a level of predictability that stands out in a volatile environment.

While we acknowledge the potential of VEEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VEEV and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.