JMP Securities analyst Patrick Walravens raised his price target on Veeva Systems to $80 from $74 and maintained his Outperform rating after meeting with executives including co-founder and president Matt Wallach this week. In a research note to investors, Walravens said that the overall business tone at Veeva "sounds great," adding that the competitive set appears to "remain relatively benign" and that the development cloud across Vault is "really working" this year. Additionally, the analyst said QualityOne represents Veeva's entry into the world outside of life sciences longer-term, which could represent a total addressable market that exceeds the entire life sciences Vault TAM of $4B over time.