Reading the tape
NYSE: VEEV
Veeva Systems Inc.
Healthcare · Medical - Healthcare Information Services
Market Cap
$24.89B
52w High
$310.50
52w Low
$148.05
P/E
27.38
Volume
3.96M
Outstanding Shares
164.38M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionHigh confidence
1Y Price: -28.11%Revenue (TTM): 16.34%FCF (TTM): 29.93%P/FCF: 0th pct
What changed
The stock fell 28.11% over the last year. Revenue grew 16.34% over the trailing twelve months. Operating margin moved from 25.17% to 28.68%. Free cash flow grew 29.93% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 28.68%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.
CEOPeter Gassner
SectorHealthcare
IndustryMedical - Healthcare Information Services
Employees7,291
IPO dateOct 16, 2013
Valuation
Forward P/E—
EV/EBITDA34.97
Enterprise value$32.05B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth15.96%
Gross margin75.53%▲1.34%vs FY2025
Operating margin28.68%▲13.92%vs FY2025
ROE12.6%▲2.89%vs FY2025
Analyst consensus
RatingBuy
Target price$280.10▲84.97%
29
Buy
12
Hold
1
Sell
⚠ Analyst ratings tend to be lagging indicators — upgrades often follow price gains rather than precede them. Use as one signal among many.
Earnings
Last 3 reported quarters plus the next estimate. Switch into compare mode to inspect one metric year-over-year.
Next report
May 27, 2026
View
EPS
Actual vs estimate by quarter
Q3FY25
ActualEst.
$1.99
$1.90
Q4FY25
ActualEst.
$2.04
$1.95
Q1FY26
ActualEst.
$2.06
$1.94
Q2FY26
Next Est.
—
Revenue
Actual vs estimate by quarter
Q3FY25
ActualEst.
$789.08M
$768.45M
Q4FY25
ActualEst.
$811.24M
$792.79M
Q1FY26
ActualEst.
$835.95M
$810.67M
Q2FY26
Next Est.
—