Veeva Systems Inc. (NYSE:VEEV) just released its latest quarterly results and things are looking bullish. The company beat expectations with revenues of US$699m arriving 2.2% ahead of forecasts. Statutory earnings per share (EPS) were US$1.13, 7.2% ahead of estimates. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Veeva Systems after the latest results.

Following the latest results, Veeva Systems' 30 analysts are now forecasting revenues of US$3.06b in 2026. This would be a solid 15% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to climb 13% to US$4.64. Before this earnings report, the analysts had been forecasting revenues of US$3.04b and earnings per share (EPS) of US$4.59 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The consensus price target rose 7.5% to US$267despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Veeva Systems' earnings by assigning a price premium. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Veeva Systems at US$320 per share, while the most bearish prices it at US$183. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Veeva Systems' revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 12% growth on an annualised basis. This is compared to a historical growth rate of 17% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 9.9% annually. Factoring in the forecast slowdown in growth, it looks like Veeva Systems is forecast to grow at about the same rate as the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Veeva Systems analysts - going out to 2027, and you can see them free on our platform here.

We also provide an overview of the Veeva Systems Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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