Veeva Systems saw its price target lifted by Needham and Jefferies on Thursday after the company reported better-than-expected fiscal second-quarter 2027 results and highlighted new customer wins in its Vault CRM platform.
Needham increased its target to $310 from $270 while maintaining a buy rating, while Jefferies raised its target to $295 from $250, also keeping a buy call. The stock was trading at $244.91 at the time of the updates.
The company reported adjusted earnings of $2.35 per share, exceeding the $2.22 per share forecast from Wall Street. Revenue reached $928 million, above the $905.4 million estimate. Veeva also posted 16% annual revenue growth over the trailing twelve months and maintained a gross margin of 75%.
Needham cited three recent Vault CRM wins, including contracts with two of the world’s top 20 pharmaceutical companies—Eli Lilly and Biogen—as well as Regeneron, which ranks just outside that tier. The platform now has 180 active implementations. The company also raised its full-year outlook following the quarterly performance.
Veeva’s shares have gained 35% over the past six months, reflecting strong investor confidence in its cloud-based solutions for the life sciences sector.
