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

Core Insights - Veeva Systems Inc. reported better-than-expected earnings for the first quarter, with adjusted earnings per share of $1.97, surpassing the analyst consensus estimate of $1.77 [1] - Quarterly sales reached $759 million, reflecting a 17% year-over-year increase, exceeding the Street view of $731.91 million [1] Financial Outlook - For the fiscal second quarter ending July 31, Veeva expects total revenue between $766 million and $769 million, slightly above the Street view of $765.34 million [2] - The company projects non-GAAP operating income between $335 million and $337 million, and adjusted diluted EPS between $1.89 and $1.90, also above the Street view of $1.88 [2] - For the full fiscal year ending January 31, 2026, Veeva anticipates total revenue between $3.09 billion and $3.10 billion, aligning with the Street view of $3.09 billion [3] - The projected non-GAAP operating income is approximately $1.36 billion, with adjusted diluted EPS around $7.63, compared to the Street view of $7.56 [3] Stock Performance - Following the earnings announcement, Veeva shares surged by 18.1%, trading at $277.04 [3] Analyst Ratings and Price Targets - Barclays analyst Saket Kalia maintained an Overweight rating and raised the price target from $285 to $300 [6] - Morgan Stanley analyst Craig Hettenbach maintained an Underweight rating and increased the price target from $201 to $210 [6] - Piper Sandler analyst Brent Bracelin maintained an Overweight rating and raised the price target from $255 to $325 [6] - Raymond James analyst Brian Peterson maintained an Outperform rating and increased the price target from $285 to $310 [6]