Veeva Systems Analysts Boost Their Forecasts After Better-Than-Expected Earnings

Veeva Systems Inc. VEEV posted better-than-expected earnings for the first quarter and raised the outlook on Wednesday.

The company reported adjusted earnings per share of $1.97, beating the analyst consensus estimate of $1.77. Quarterly sales of $759 million (+17% year over year) outpaced the Street view of $731.91 million.

"We crossed our 2025 revenue run rate goal this quarter and are progressing well toward our 2030 goal to double that and the positive impact we can have for our customers and the industry," said CFO Brian Van Wagener.

For the fiscal second quarter ending July 31, Veeva expects total revenue between $766 million and $769 million (Street View: $765.34 million), non-GAAP operating income between $335 million and $337 million and adjusted diluted EPS between $1.89 and $1.90 (Street view: $1.88).

For the full fiscal year ending January 31, 2026, the company projects total revenue between $3.09 billion and $3.10 billion versus the Street view of $3.09 billion (prior view: $3.040 billion to $3.055 billion), non-GAAP operating income of approximately $1.36 billion, and adjusted diluted EPS of around $7.63 versus the Street view of $7.56 (Prior view: $7.32).

Veeva shares jumped 18.1% to trade at $277.04 on Thursday.

These analysts made changes to their price targets on Veeva following earnings announcement.

Barclays analyst Saket Kalia maintained Veeva Systems with an Overweight rating and raised the price target from $285 to $300.
Morgan Stanley analyst Craig Hettenbach maintained the stock with an Underweight rating and raised the price target from $201 to $210.
Piper Sandler analyst Brent Bracelin maintained Veeva with an Overweight rating and raised the price target from $255 to $325.
Raymond James analyst Brian Peterson maintained the stock with an Outperform rating and raised the price target from $285 to $310.

Considering buying VEEV stock? Here’s what analysts think: