| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 19 | 42.5x | 17.6x | Bottom tier | |
Growth | 77 | 16.5% | 7.1% | Top tier | |
Quality | 89 | 10.1% | 4.5% | Top tier | |
Safety | 95 | — | 2.6x | Top tier | |
Capital Return | 47 | — | 2.15% | Around median | |
Momentum | 70 | -13.7% | 2.3% | Top tier | |
Sentiment | 62 | 17 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Veeva Systems provides specialized cloud software, data, and consulting services for the life sciences sector, bringing its products together within an industry cloud that connects applications, data, and services. Its commercial business drivers include Vault CRM, PromoMats, Data Cloud, and Crossix, while its research and development portfolio includes products such as EDC, eCOA, RTSM, Safety, and LIMS. The company is also adding a fourth revenue model through “agentic work” in Veeva Falcon, alongside developing Aspen as a horizontal CRM platform outside its traditional markets, although management does not include Aspen revenue in its current plans.
In Q2 fiscal 2027, revenue reached $928.0 million, representing 18% year-over-year growth, and gross profit reached $696.0 million, equivalent to a gross margin of approximately 75.0%. Net income reached $273.4 million, or about 29.5% of revenue, and earnings per share according to EDGAR were approximately $1.66, while the company reported non-GAAP operating income of $416 million, with a margin of approximately 44.8%. On a trailing-twelve-month basis within fiscal 2027, Veeva recorded revenue of $3.5 billion, gross profit of $2.6 billion, and net income of $1.0 billion.
The growth mix in Q2 fiscal 2027 was broad across the commercial business; Commercial subscriptions rose by approximately 13% year over year, and growth remained in the double digits even after excluding Crossix. Strength included CRM, content, data, Crossix, and Ostro, and management described the period as the best CRM quarter in the company’s history. In research and development, growth sources are gradually shifting from eTMF, CTMS, QDOC, QMS, and the regulatory suite to EDC, eCOA, RTSM, Safety, and LIMS, which are strategic products but remain in their early stages.
The average analyst price target is $290, compared with a high target of $330 and a low target of $165, with an overall consensus rating of “Buy.” The average target is below the 52-week range high of $310.50, while the large gap between the upper and lower bounds reveals high uncertainty regarding the value of the Falcon and Vault CRM opportunities and the new wave of research and development products. A price-to-earnings ratio is not available in the data, so the stock’s valuation cannot be anchored to a comparable earnings multiple despite trailing-twelve-month earnings per share for fiscal 2027 reaching approximately $6.15.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Veeva’s revenue in Q2 fiscal 2027 reached approximately $928 million, an increase of 18% year over year, while net income reached $273.4 million. Gross profit rose to $696 million, equivalent to a margin of approximately 75.0%, and non-GAAP operating income reached approximately $416 million. The commercial business led performance, with Commercial subscription growth of approximately 13%, while growth remained in the double digits after excluding Crossix. Adjusted earnings per share also reached $2.35, exceeding analysts’ estimate of $2.22.
Veeva Falcon expands the company’s model from software, data, and consulting into agentic work in life sciences areas such as safety, clinical operations, and regulatory operations. Falcon had five early adopters as of August 26, 2026, including a top 20 pharmaceutical company, and Falcon MLR was the most advanced in sales cycles. Management believes the product could deliver rapid savings and improve compliance and efficiency, and according to its description, implementation does not require extensive data migrations or system conversions. However, management emphasized that the technology, operating model, and pricing remain at an early stage and that the success of early customers is a prerequisite for expansion.
Automated analysis for informational purposes only — not investment advice.
In Q2 fiscal 2027, Veeva won three major Vault CRM selections that included two of the top 20 biopharmaceutical companies, with Biogen and Regeneron named among the customers. Veeva now has 12 of the top 20 companies, with decisions from only two companies still expected by the end of 2026, while the number of live customers surpassed 180. Management stated that some customers that selected Salesforce are experiencing project difficulties and delays, and it expects potential win-back opportunities to emerge more significantly in 2027 and 2028. However, these win-backs are not certain and remain contingent on the continued quality of Vault CRM execution before support for using Veeva CRM ends in late 2029.
Research and development growth drivers are shifting from eTMF, CTMS, QDOC, QMS, and the regulatory suite to EDC, eCOA, RTSM, Safety, and LIMS. Management described the five new products as large, strategic, and having substantial growth potential through 2030 and beyond, but they remain in their early stages and at varying levels of maturity. Veeva has nine of the top 20 customers in EDC, while most of the remainder are with Medidata, and EDC implementations remain long-cycle. The opportunity therefore combines a large market and interconnected selling potential within Development Cloud with the risk that the new revenue curves will lag the slowdown in older products.
Data published on August 28, 2026, showed that Veeva had approximately $1.8 billion in cash and $5.4 billion in short-term investments. The company has a share repurchase program totaling $2 billion, with $1.4 billion of capacity remaining. This financial position gives the company flexibility to fund Falcon, Aspen, and research and development products while returning capital to shareholders. Management said that Falcon and Aspen investments during fiscal 2027 are included in the outlook, and that Aspen does not represent a material financial drain and no revenue from it is included in current plans.
The primary operational risks are competition from Salesforce in CRM, long EDC implementation cycles, and the mismatch between the growth curves of older and newer research and development products. Falcon adds a new execution risk because it relies on nondeterministic agentic work that requires training, controls, and human review, while the company still had only five early adopters as of August 26, 2026. Analyst valuations also range from $165 to $330, a wide spread compared with the 52-week range of $148.05–$310.50. Finally, net insider sales reached $10.0 million across four transactions over three months, though this should be treated as a weak signal because these sales may be prearranged.
