Veeva Systems Analysts Lower Their Forecasts Following Q1 Results
Portfolio Pulse from Avi Kapoor
Veeva Systems Inc (NYSE:VEEV) reported better-than-expected Q1 earnings but issued weak revenue guidance, leading to a 3.2% drop in its share price. Analysts from Piper Sandler, B of A Securities, and Needham adjusted their price targets for the stock.
May 31, 2024 | 11:38 am
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Veeva Systems reported better-than-expected Q1 earnings but issued weak revenue guidance, leading to a 3.2% drop in its share price. Analysts from Piper Sandler, B of A Securities, and Needham adjusted their price targets for the stock.
Despite beating Q1 earnings estimates, Veeva Systems issued weak revenue guidance, which is likely to concern investors. This has already led to a 3.2% drop in the share price. Additionally, analysts have lowered their price targets, indicating a cautious outlook.
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