On Wednesday, Veeva Systems Inc. (NYSE:VEEV) reported fourth-quarter fiscal 2026 financial results and provided guidance.

Veeva Q4 Results, Q1 2027 Guidance

Veeva Systems reported:

  • Q4 revenue of $836 million, up 16% year-over-year, beating a Street consensus estimate of $810.6 million.
  • Q4 earnings per share of $2.06, beating a Street consensus estimate of $1.93.
  • Q1 fiscal 2027 revenue expectations of $855 million to $858 million. Analysts currently forecast Q1 revenue of $847.2 million.
  • Guidance for Q1 earnings per share is $2.13-$2.14, versus an analyst estimate of $2.06.
  • Guidance for fiscal year 2027 estimates revenue between $3.585 billion and $3.60 billion versus a Street estimate of $3.56 billion.
  • The company sees fiscal 2027 earnings per share at $8.85 versus a Street estimate of $8.58.

Analyst Sees SaaS Compression

Needham lowered the price forecast from $335 to $270, while reiterating the Buy rating for the stock.

Analyst Ryan Macdonald highlights a strong close to fiscal 2026, as continued progress penetrating the top 20 pharma for Vault CRM has been supplemented by even higher win rates in the mid-market, resulting in 125+ customers now on Vault CRM.

Needham on Thursday wrote that the lower price forecast is based on the recent multiple compression in the SaaS space.

Position In AI Space

Rising product development in the AI space is positioning Veeva as a centralized system regardless of AI adoption decisions made by life sciences, Needham wrote in an investor note.

“Despite market sentiment, we believe Veeva’s releases in commercial, safety, and professional underscore the company’s ability to be an AI leader, underpinned by the company’s core systems across the 4-walls of the client,” Macdonald added.

“We believe the market is discounting Veeva’s position in the AI-driven world, leading us to remain buyers at these levels,” Needham wrote.

Other Analysts Move

Piper Sandler maintains Veeva Systems with an Overweight and lowers the price target from $355 to $285.

Morgan Stanley maintains Veeva Systems with an Equal-Weight and raises the price target from $205 to $215.

VEEV Price Action: Veeva Systems shares were up 2.75% at $201.33 at the time of publication on Thursday, according to Benzinga Pro data.

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