JPMorgan analyst Sterling Auty kept his Neutral rating and $95 price target on Veeva after its Analyst Day presentation. The analyst states that the management has increased its total addressable market estimate to over $9B from $8B indicated in last year’s analyst day while also boosting its operating margin projections and outlining a roadmap for more products. Auty noted however that Veeva’s current multiple presents limited room for upside.
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