Healthcare tech maker Veeva Systems's Q2 results top estimates on Vault CRM expansion
VEEV•Outlook for Q3 and full year
- Veeva sees Q3 revenue between $932 mln and $935 mln
- Company expects Q3 non-GAAP EPS between $2.33 and $2.34
- Veeva forecasts FY revenue between $3,682 mln and $3,687 mln
Growth drivers in the quarter
- Vault CRM expansion - Co said Vault CRM had its best quarter ever, with more top 20 biopharma wins and increased customer adoption
- AI platform advances - Co said major AI milestones for Vault AI and Falcon, with new agent capabilities and initial go-lives on track
- Broad cloud adoption - Co said Development Cloud and Quality Cloud saw broad adoption and deepened customer relationships, including new wins in clinical and quality segments
Analyst coverage and valuation
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
- The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
- Wall Street's median 12-month price target for Veeva Systems Inc. is $270.00, about 9.4% above its August 25 closing price of $246.78
- The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 17 three months ago
