12:00 AM EST, 03/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target to $230 from $190, shifting to a P/E of about 20.3x our CY 25 EPS estimate, below VEEV's five-year historical average given slower growth. We increase our FY 25 (Jan.) EPS estimate to $6.16 from $5.52 and FY 26 to $6.39 from $6.17. VEEV posts Jan-Q of $1.38 vs. $1.15, beating the $1.30 consensus. Sales grew 12%, better than expected, driven by higher subscription growth within both R&D (+19%) and Commercial Solutions (+8%). VEEV guides for FY 25 revenue growth of 16%, slightly below expectations. Still, we remain optimistic about subscription growth looking ahead, given momentum from established solutions as well as upside from newer solutions such as Veeva Link and Vault EDC. Operating margin widened 70 basis points to 37.9%, better than our view, partly aided by lower headcount. Despite our higher estimates and optimism in the life sciences industry, VEEV anticipates elevated project scrutiny through the year, with the funding environment remaining difficult for emerging biotech.