Needham analyst Scott Berg raised his price target on Veeva to $150 and kept his Buy rating after the company announced its "first significant win" for its Clinical Data Management System in a global contract with a Top 20 pharma company. While it may not reflect a "new trend", the analyst believes that the transaction "signifies the growing momentum of Veeva's broader Vault solution across clinical operations." Berg adds that the contact will have minimal FY20 financial impact, but is likely to ramp up to a sizable revenue stream over a multi-year period.