Veeva Systems: Stifel raises PT to $320 from $295, maintains Buy rating.

Veeva Systems: Stifel raises PT to $320 from $295, maintains Buy rating.

Investing.com reports that Stifel has increased its price target for Veeva Systems (NYSE:VEEV) to $320, up from $295, while maintaining a Buy rating on the stock. The move follows Veeva's strong quarterly results, which showed revenue growth of 17%, exceeding expectations by 3%, and earnings per share growth of 22% year-over-year, beating estimates by 5% [1].

Veeva's normalized billings grew 10%, aligning with the company's guidance. The firm's P/E ratio stands at 61.37, with impressive gross margins of 75.5%. Despite these positive metrics, Veeva's stock fell approximately 4% in after-market trading, potentially reflecting concerns about the pace of billings growth and implied deceleration of subscription growth in the second half of fiscal year 2026 [1].

Stifel's analysis suggests that Veeva's fiscal year 2026 revenue guidance was raised by more than 1% to 14% growth, representing an increase of $42 million above the fiscal second quarter beat of approximately $21 million. The company's fiscal year 2026 earnings per share guidance also increased by more than 1% to 18% year-over-year growth [1].

Despite the recent price target increase, Veeva's stock has demonstrated strong momentum, with a 47% return over the past year and is trading near its 52-week high of $296.72 [1].

References:
[1] https://www.investing.com/news/analyst-ratings/veeva-systems-stock-price-target-raised-to-320-from-295-at-stifel-93CH-4214644