Veeva System down after KeyBanc downgrades to "SectorWeight"

Veeva Systems

12/12/2025 12:57

** Shares of healthcare tech firm Veeva Systems VEEV.N down about 3% at $223.74 premarket

** KeyBanc downgrades stock to "SectorWeight" from "OverWeight"

** Brokerage says large pharma clients that are in the middle of software evaluations are leaning toward Salesforce's CRM.N offerings, suggesting more losses than VEEV has outlined

** Also says a healthy number of small- and medium-sized business customers have already migrated to CRM from VEEV

** 22 of 34 brokerages rate the stock "buy" or higher, 10 "hold", 2 brokerages rate the stock "sell" or higher; median PT is $320 - data compiled by LSEG

** As of last close, stock up 9% YTD

 (Reporting by Koyena Das in Bengaluru)

 ((Koyena.das@thomsonreuters.com))