Piper Jaffray analyst Sean Wieland believes a "sea change in consumer sentiment around data privacy is afoot and legislators are beginning to respond." The California Consumer Privacy Act, which takes effect on January 1, strengthens consumer data privacy rights, Wieland tells investors in a research note. He believes this will increase the regulatory burden on data brokers such as Iqvia and data suppliers, resulting in margin pressure and the potential for consumer backlash. The analyst reiterates a Neutral rating on the shares with a $145 price target.