Veeva initiated with a Buy at SunTrust. SunTrust analyst Sandy Draper initiated Veeva with a Buy rating and a price target of $100, saying the company’s cloud solutions position it as a “preeminent vendor to Life Sciences companies” while also positioning it in clinical R&D. Draper expects Veeva to grow its revenues at about 20% per year for the next 3-5 years, topping $1B in annual revenues. The analyst also cites the company’s large and expanding total addressable market, “solid technology platform”, and “consistent” execution.
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