Why Veeva Systems Inc. (VEEV) is One of the Most Oversold Healthcare Stocks to Invest In

Veeva Systems Inc. (NYSE:VEEV) is one of the most oversold healthcare stocks to invest in. Veeva Systems Inc. (NYSE:VEEV) was downgraded to Neutral from Buy by Citi on April 10, with the firm bringing the price target on the stock down to $176 from $291. The firm told investors in a research note that it is “turning more selective” in the application software group with six downgrades, and added that the rating changes highlight its view of underweight software. Citi sees a lack of catalysts for the stocks over the next 12 months.

Why Veeva Systems Inc. (VEEV) Surged On Thursday

In a separate development, Veeva Systems Inc. (NYSE:VEEV) announced the acquisition of Ostro on March 10, which is a brand engagement platform for life sciences that gives patients and doctors immediate, compliant answers through an easy-to-use AI-driven chat experience.

Management stated that Veeva Systems Inc. (NYSE:VEEV) acquired Ostro for a purchase price of around $100 million in cash and long-term equity retention grants, and added that Ostro will continue its operations as an independent unit led by CEO Chase Feiger.

Veeva Systems Inc. (NYSE:VEEV) provides industry cloud solutions for the global life science industry. Its offerings include cloud software, data, and business consulting. The company’s product categories encompass Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud.

While we acknowledge the risk and potential of VEEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VEEV and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.