Veeva Systems Inc (NYSE:VEEV) rose sharply in pre-market trading as the company reported upbeat fourth-quarter financial results and issued FY27 guidance above estimates.
Veeva Systems reported fourth-quarter revenue of $836 million, up 16% year-over-year. The revenue total beat a Street consensus estimate of $810.6 million, according to data from Benzinga Pro. The company reported fourth-quarter earnings per share of $2.06, beating a Street consensus estimate of $1.93.
“The agentic transformation underway represents a substantial opportunity for Veeva and life sciences,” Veeva CEO Peter Gassner said.
The company provided first-quarter guidance with a revenue estimate of $855 million to $858 million. Analysts currently forecast first-quarter revenue of $847.2 million, according to Benzinga Pro. The company’s guidance for first-quarter earnings per share is a range of $2.13 to $2.14 versus an analyst estimate of $2.06.
Guidance for the next fiscal year calls for revenue in a range of $3.585 billion to $3.600 billion versus a Street estimate of $3.56 billion. The company sees fiscal 2027 earnings per share coming in at $8.85 versus a Street estimate of $8.58.
Veeva Systems shares jumped 11.3% to $209.81 in the pre-market trading session.
These analysts made changes to their price targets on Veeva Systems following earnings announcement.
- Piper Sandler analyst Hannah Rudoff maintained Veeva Systems with an Overweight and lowered the price target from $355 to $285.
- Needham analyst Ryan MacDonald maintained the stock with a Buy and lowered the price target from $355 to $270.
Considering buying VEEV stock? Here’s what analysts think:
Photo via Shutterstock