Key Stats for Veeva Stock
- 52-Week Range: $168.1 to $130.5
- Current Price: $172.7
- Street High Target: $270.9
What Happened?
Veeva Systems (VEEV) entered fiscal 2027 having surpassed its $3 billion revenue run rate milestone a full year ahead of schedule, with full-year subscription revenue climbing 17% to $2.7 billion and the stock sitting 44% below its 52-week high of $310.50 at $172.74.
Veeva’s Q4 FY2026 earnings, released March 4, delivered total revenue of $836 million against a consensus estimate of $810.6 million, while FY2027 guidance of $3.585 to $3.600 billion landed well above the $3.2 billion analysts had penciled in, sending shares 11.3% higher in premarket trading on March 5.
Underpinning that guidance beat is a commercial CRM transition that is running ahead of expectations: Vault CRM, Veeva’s purpose-built life sciences CRM replacing its legacy Salesforce-based product, now has approximately 140 customers live globally, including two top-20 biopharmas operating across every major region, with 10 of the top 20 biopharmas committed globally and roughly 14 expected to commit in total.
Peter Gassner, Chief Executive Officer, stated on the Q4 2026 earnings call that “2025 was an outstanding year for Veeva. We surpassed our $3 billion revenue run rate goal and deepened our strategic partnerships across the life sciences industry through innovation and customer success,” anchoring remarks to a year in which operating income surged 33% to $916.4 million on a GAAP basis.
Veeva’s $6 billion revenue run rate target for 2030, a $2 billion share repurchase program authorized in January and already $180 million deployed, and an AI agent rollout across every major product area through calendar 2026 collectively position the company to compound growth well beyond its current 13% annual trajectory toward that goal.
Wall Street’s Take on VEEV Stock
The FY2027 revenue guidance beat that sent shares 11.3% higher on March 5 directly upgrades the earnings trajectory: TIKR estimates normalized EPS reaching $8.83 in FY2027 and $9.89 in FY2028, supported by Vault CRM’s 140-customer live base and Crossix’s consumption-driven momentum.
Revenue growing from $3.2 billion in FY2026 to an estimated $3.6 billion in FY2027 and $4.0 billion in FY2028, alongside EBITDA margins holding at 45%, makes the earnings compounding case structural rather than cyclical, anchored by the 10 committed top-20 biopharmas on Vault CRM.
Fourteen analysts rate VEEV a buy or strong buy, nine call it an outperform, and eight hold, with a mean price target of $270.93 against the current $172.74, implying 57% upside as the street anticipates Vault CRM migration completions and AI agent monetization through calendar 2026.
Analyst price targets range from $190 on the low end to $350 on the high end, with the bear case hinging on CRM migration delays and Crossix lapping a standout FY2026, while the bull case prices in full top-20 CRM commitment and accelerating AI agent revenue contribution.
What Does the Valuation Model Say?
The TIKR mid-case model prices VEEV at $327.46 by January 2031, embedding a 13.1% revenue CAGR and 40.6% net income margins, both directly supported by the $6 billion 2030 revenue run rate target and stable EBITDA margins already running at 45.6% in FY2026.
At $172.74, VEEV trades at approximately 19.6x FY2027E normalized EPS of $8.83, a steep discount to the 28x forward multiple the stock commanded just three months ago, even as the underlying business compounds EPS at a 22.5% five-year historical CAGR — VEEV stock is undervalued.
The TIKR model’s 13.1% revenue CAGR assumption is directly supported by Vault CRM’s approximately 140 live customers, the expected ~14-of-20 top biopharma commitments, and RTSM’s top-20 enterprise standardization win, which collectively anchor the $327.46 mid-case target.
Management’s decision to pull forward Veeva CRM’s end-of-support date to December 2029 from September 2030 signals confidence that the migration is ahead of schedule, removing a key overhang the market had been discounting.
If Crossix growth decelerates sharply in FY2027 as it laps a breakout year, the commercial subscription line softens and undermines the revenue CAGR at the core of the TIKR model.
Q1 FY2027 results, expected against guidance of $855 to $858 million in total revenue, will confirm whether Crossix can sustain growth through difficult comparisons and whether Vault CRM migration services revenue is ramping as guided.
Should You Invest in Veeva Systems Inc.?
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