Veeva Systems' stock surged 7.8% in pre‑market trading, reaching $264 per share, up from the session opening price of $239.87.
The cloud‑software firm posted fiscal Q2 2027 revenue of $928 million, an 18% year‑over‑year increase that topped the consensus estimate of roughly $905 million. Adjusted earnings per share came in at $2.35, beating the market expectation of $2.22. Subscription revenue grew 16% to $766.8 million, while non‑GAAP operating margins remained above 44%.
Guidance for the full fiscal year 2027 was revised upward. Veeva now expects total revenue between $3.68 billion and $3.69 billion, above the prior consensus of about $3.65 billion, and its adjusted EPS outlook was lifted to $9.21 from $9.05.
The company highlighted a record quarter for its Vault CRM business, adding two new top‑20 biopharmaceutical customers—Eli Lilly and Biogen—and bringing the total number of top‑20 industry clients on the platform to 12.
Analyst upgrades followed the results. Barclays raised its price target from $275 to $315 while maintaining an above‑average rating. Piper Sandler initiated coverage with an above‑average rating and a $295 price target.
Broader market indices also moved higher, with the Nasdaq gaining 1.1% and the S&P 500 up 0.5%.
CEO Peter Gassner said, "Vault CRM had its best quarter ever and Veeva Falcon accelerated rapidly," adding that artificial intelligence is "opening the next big chapter for Veeva and for life sciences."
