Shares of Veeva Systems Inc. (NYSE:VEEV) rose in early trading on Thursday after the cloud software company reported upbeat first-quarter results.

Here are some key analyst takeaways:

BTIG analyst David Larsen reiterated a Buy rating and price target of $340.

Needham analyst Ryan MacDonald maintained a Buy rating and price target of $270.

Check out other analyst stock ratings.

BTIG: Veeva's revenue grew 16% year-on-year to $882.9 million and adjusted operating income by 13% to $395.4 million, topping consensus of $858 million and $382 million, respectively, Larson said in a note. Following the strong quarterly results, management raised fiscal 2027 guidance for all key metrics, including revenue, adjusted operating income, adjusted earnings, and normalized billings, he added.

Larsenis impressed by VEEV’s growth. That’s especially given that “some other pharma services companies report that there are still lingering headwinds in the broader industry," ...