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Fly News Breaks for May 25, 2018
VEEV
May 25, 2018 | 07:42 EDT
Needham analyst Scott Berg raised his price target on Veeva to $90 after its "very good" Q1 results driven by outperforming professional services revenues and billings. Berg also says the management elaborated on its latest Nitro product release, adding that he is "intrigued" with its sales opportunities as it could replace the existing party analytics tools. The analyst keeps his Buy rating on Veeva, noting the company can increase its R&D investments in FY19 which could support its subscription growth above the 20% annual goal through 2020.
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