Stock Update (NYSE:VEEV): Industry Veteran Tim Barabe Joins Veeva Systems Inc’s Board of Directors

Veeva Systems Inc (NYSE:VEEV), a leading provider of industry cloud solutions for life sciences, today announced Tim Barabe has joined the company’s Board of Directors.

With more than 30 years of industry experience, Barabe has held leadership and CFO positions for numerous life sciences companies, includingNovartis and its Sandoz and CIBA Vision subsidiaries, Affymetrix, and Human Genome Sciences. Barabe brings considerable financial acumen and deep knowledge of the life sciences industry to his role as director.

“We are thrilled to have such an accomplished and influential leader join the Veeva board,” said Peter Gassner, founder and CEO of Veeva. “Tim’s long history of financial strategy and stewardship at some of the most successful public and private life sciences companies makes him an ideal choice as we enter our next phase of growth.”

Barabe replaces director Mark Armenante, who is stepping down. “As an early member of the board, Mark has made tremendous contributions toVeeva and we are grateful for his service,” added Gassner. (Original Source)

Shares of Veeva Systems opened today at $25.22 and are currently trading up at $25.86. VEEV has a 1-year high of $33.66 and a 1-year low of $22.11. The stock’s 50-day moving average is $25.57 and its 200-day moving average is $26.84.

On the ratings front, Veeva has been the subject of a number of recent research reports. In a report issued on August 28, William Blair analyst Amanda Murphy maintained a Buy rating on VEEV. Separately, on the same day, Deutsche Bank’s Karl Keirstead maintained a Hold rating on the stock and has a price target of $26.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Amanda Murphy and Karl Keirstead have a total average return of 2.3% and 4.5% respectively. Murphy has a success rate of 50.0% and is ranked #1830 out of 3752 analysts, while Keirstead has a success rate of 44.7% and is ranked #1030.

The street is mostly Bullish on VEEV stock. Out of 5 analysts who cover the stock, 3 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $31.33, which represents a potential upside of 24.2% from where the stock is currently trading.

Veeva Systems Inc is a provider of industry-specific, cloud-based software solutions for the life sciences industry.

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