Veeva vs. Salesforce: Which Life Sciences CRM Stock Is the Better Buy?

Core Insights - A significant shift is occurring in the enterprise software landscape, particularly in the life sciences CRM market, as Veeva Systems plans to end its reliance on Salesforce's cloud infrastructure by September 2025, transitioning to its proprietary Vault platform [1][2][8] Company Strategies - Veeva is focusing on life sciences by developing vertically integrated solutions tailored to the sector's needs, while Salesforce is also pushing into life sciences with its own dedicated CRM offering [2][9] - Veeva's transition to the Vault platform will provide full control over its software stack, allowing for tailored features and optimized performance, enhancing its position as a vertically integrated player [8][12] - Salesforce benefits from a proven CRM infrastructure and is expanding its presence in life sciences through its Life Sciences Cloud, which reflects its strategic intent to grow within this high-value vertical [9][14] AI and Product Innovation - Veeva is integrating AI capabilities directly into its Vault platform, with plans to launch features like Vault CRM Bot and Voice Control by late 2025, aiming to enhance productivity and compliance [10][12] - Salesforce is advancing AI through its Agentforce platform, which reached $100 million in ARR within 90 days of launch, connecting with various tools to unify workflows [11][14] Financial Performance - Veeva's shares have gained 35.7% year-to-date, while Salesforce's stock has declined by 21.1% [3] - The Zacks Consensus Estimate for Veeva's fiscal 2026 sales implies a year-over-year growth of 12.78%, with projected earnings per share of $7.64, up 15.76% year over year [15] - For Salesforce, the fiscal 2026 sales and earnings estimates imply year-over-year growth of 8.64% and 10.78%, respectively [16] Market Positioning - Veeva is positioned as a go-to vertical platform for life sciences, with strong early adoption of its Vault CRM and expanding enterprise relationships [12][13] - Salesforce remains a strong contender with its broad platform and AI-led innovation strategy, but Veeva's focused approach and platform control provide it with a competitive edge in the life sciences CRM market [21]