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On Monday, Raymond (NSE:RYMD) James reiterated an Outperform rating and a $285.00 price target on Veeva Systems (NYSE:VEEV) stock, representing potential upside from the current price of $233. According to InvestingPro data, analyst targets for Veeva range from $201 to $290, with the company currently trading at 53x earnings. Analyst Brian Peterson shared insights following Veeva’s Commercial Summit in Boston, noting that the company’s Vault CRM now boasts over 80 customers, a significant increase from the 50+ reported during the last earnings call. This growth aligns with Veeva’s strong financial performance, as InvestingPro data shows revenue growth of 16.2% over the last twelve months to $2.75 billion, with a robust gross profit margin of 74.5%.
The summit, which is not open to the investment community, was tracked by Raymond James through various press releases and LinkedIn posts. A notable highlight from the event was the recognition of a Bristol-Myers Squib employee as the ’Vault Suite CRM Hero’ for leading the largest global implementation of the Align (NASDAQ:ALGN) product. Although there has been no official statement regarding Bristol-Myers Squib’s future CRM plans, Peterson infers that the large deployment of Vault Align could suggest a potential adoption of Vault CRM.
Further discussions with customers and partners at the Salesforce (NYSE:CRM) World Tour in New York, which occurred during the past week, provided additional context on the competitive landscape between Salesforce and Veeva in the pharmaceutical CRM space. The tour followed the recent announcement that Takeda will adopt Salesforce’s Life Sciences Cloud for Customer Engagement. Peterson’s commentary suggests that Salesforce’s offerings in customization and AI could be influencing factors in this decision.
Earlier in 2025, Pfizer (NYSE:PFE) chose Salesforce over Veeva’s Vault CRM, yet four of the top 20 pharmaceutical companies have opted to transition to Vault CRM. While the transition decisions for these companies are expected to unfold over the next 18 months, Peterson points out that Vault CRM is perceived as a less expensive and technically simpler option for users. Despite this, Salesforce’s vision, particularly in AI capabilities with products like Agentforce, seems to be gaining traction with some large pharmaceutical firms.
Peterson’s analysis indicates that Veeva’s position in the market remains robust, with a growing customer base for its Vault CRM product and a strong performance at its recent summit. The analyst’s reiteration of the Outperform rating and price target reflects confidence in Veeva’s market strategy and product offerings. InvestingPro analysis supports this view, assigning Veeva a "GREAT" Financial Health score, with particularly strong metrics in profitability and cash flow. Subscribers can access over 10 additional ProTips and a comprehensive analysis of Veeva’s financial health through the Pro Research Report.
In other recent news, Veeva Systems has introduced Veeva AI, an initiative aimed at enhancing productivity in the life sciences sector by integrating artificial intelligence into its platform. This development is expected to launch in December 2025 on a subscription basis. Additionally, Veeva Systems reported strong fourth-quarter earnings, with a year-over-year revenue increase of 14% and a 26% rise in earnings, surpassing analyst expectations. Stifel analysts maintained a Buy rating with a $272 target, noting the company’s optimistic guidance for fiscal year 2026, which includes an 11% revenue and EPS growth.
Citi analyst Tyler Radke also reaffirmed a Buy rating with a $307 target, highlighting Veeva’s robust product adoption and strong billing growth outlook for FY26. Raymond James analyst Brian Peterson maintained an Outperform rating with a $285 target, emphasizing the stability in revenue from Veeva’s top 10 customers and a significant 17% billings growth in the fourth fiscal quarter. The company also announced the upcoming retirement of board member Tina Hunt, effective before the 2025 annual meeting of shareholders, as part of a routine disclosure. Investors are closely monitoring these developments, which reflect Veeva’s strategic direction and potential for continued growth.
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