Veeva Q2 tops forecasts; fiscal 2027 adjusted EPS and revenue guidance raised
Veeva posted Q2 EPS of $2.35 and revenue of $927.96 million, beating consensus. It raised fiscal 2027 adjusted EPS guidance to $9.21 and revenue outlook to $3.682B-$3.687B. Pre-market shares rose 11.5% to $273.00.
Veeva Systems Inc. (NYSE: VEEV ) posted better-than-expected second-quarter results after Wednesday’s closing bell.
Veeva Systems reported quarterly earnings of $2.35 per share, which beat the consensus estimate of $2.22 by 5.86%, according to Pro data.
Quarterly revenue clocked in at $927.96 million, which beat the Street estimate of $905.28 million.
CEO Peter Gassner said, "Vault CRM had its best quarter ever and Veeva Falcon accelerated rapidly.
By bringing together deep industry applications, agents, data, and consulting, we are helping the industry drive new efficiencies from clinical to commercial and deliver better outcomes for patients." Veeva Systems raised its fiscal 2027 adjusted EPS guidance from $9.05 to $9.21, versus the $9.06 analyst estimate, and raised its revenue outlook to between $3.682 billion and $3.687 billion, versus the $3.65 billion estimate.
Veeva shares jumped 11.5% to $273.00 in pre-market trading.
These analysts made changes to their price targets on Veeva following earnings announcement.
Piper Sandler analyst Billy Fitzsimmons maintained the stock with an Overweight rating and raised the price target from $295 to $320.
Needham analyst Ryan MacDonald maintained the stock with a Buy and raised the price target from $270 to $310.
Evercore ISI Group analyst Kirk Materne maintained the stock with an In-Line rating and raised the price target from $185 to $250.
Truist Securities analyst Jailendra Singh maintained the stock with a Buy and raised the price target from $262 to $305.
Morgan Stanley analyst Craig Hettenbach maintained the stock with an Equal-Weight rating and raised the price target from $215 to $275.
Considering buying VEEV stock? Here’s what analysts think: Photo via Shutterstock