In the past few sessions Veeva Systems' share sharply fell and is presently coming back to a significant support level.

The firm’s Surperformance rating underline its revenue growth, its profitability and its sound finances. The consensus is strongly buyer (>70%) and has set an average target price displaying a +30% potential. Moreover, financial forecasts are encouraging.

Graphically, the stock is keeping a neutral trend in the medium term. After many weeks of horizontal consolidation within the USD 26/29 trading range. Near the lower limit, the security is currently facing an oversold situation. Thus, this short term support is likely to send back the stock on the upper limit.
Consequently, investors may open a long position at current prices and target a reversal toward the USD 29 resistance. A stop loss order could be set at USD 25.25.