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Veeva Systems Inc. — Intrinsic Value & Fair Price

VEEV
NYSETechnologySoftware - ApplicationCIK 0001393052veeva.comAbout VEEV
Last close · Oct 16, 2026310.36−2.67 (−0.85%)
Market cap$50.3B
Model value · DCF · Perpetuity growth · 5y
120.63
Veeva Systems closed at $310.36 — overvalued by 157% vs model.
83.17the model's range246.00

DCF · Perpetuity growth · 5y leads for a software company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
49.23 – 348.05
Wall St. target
310.00 0% above
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Valuation models

price $310.36 · as of Oct 17, 2026

DCF · Perpetuity growth · 5y leads for a software company — positive operating income and three years of positive free cash flow. How we value a stock walks through every input. The price is 157% above the model value: the models see only the filed business, and a company priced on businesses with no revenue line yet is better taken apart, as Tesla is.

engine pkg:0.1.0

Research on VEEV

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How it is valued

Valued asSoftware
Moderate growth (~16% recent)High profitability (28% net margin)
What growth the price implies: the reverse DCF

Key figures

FY2026 · chosen for software companies
Price / sales
15.9×
Revenue growth
16.3%
Gross margin
75.5%
FCF margin
43.4%
Rule of 40
59.7%
Operating margin
28.7%
Full financials

Analyst actions

third-party, quoted
10-15Oppenheimer · target325.00
09-08Wells Fargo · target330.00
08-27Truist Financial · target305.00
04-10Citigroup · “Neutral” from “Buy”downgrade
Ratings, targets and estimates

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just VEEV. No account.

About Veeva Systems

Veeva Systems Inc. is a leading provider of cloud-based software solutions, exclusively dedicated to the global life sciences industry. Its extensive operational presence spans across North America, Europe, the Asia Pacific region, the Middle East, Africa, and Latin America. The company's product portfolio is primarily structured around two major offerings. First, the Veeva Commercial Cloud delivers an integrated suite of software, data, and analytics tools designed to optimize commercial operations. This includes vital applications such as Veeva Customer Relationship Management (CRM) and its specialized Medical CRM, Veeva Closed Loop Marketing (CLM), sophisticated analytics via Veeva CRM MyInsights, approved email communication with Veeva CRM Approved Email, digital engagement tools like Veeva CRM Engage, commercial alignment through Veeva Align, event management capabilities with Veeva CRM Events Management, data warehousing solutions (Veeva Nitro), data services (Veeva OpenData, Veeva Link), master data management (Veeva Network), advanced analytical insights (Veeva Crossix, Veeva Data Cloud), and patient engagement platforms (MyVeeva for Patients). Secondly, Veeva Vault provides a robust collection of cloud-native enterprise content and data management applications. These applications are engineered to support both critical commercial functions—encompassing sales, marketing, and medical content and communications—and comprehensive research and development processes, including clinical trials, regulatory compliance, quality management, and patient safety. Beyond its software, Veeva offers a wide array of professional and support services. These range from strategic implementation and deployment planning, project management, and detailed requirements analysis to solution design and configuration. They also include system environment management and deployment, expert consulting for business process transformation related to Veeva solutions, technical guidance on data migration and systems integrations, comprehensive training programs, and ongoing managed services such as outsourced systems administration. Tracing its origins, the company was incorporated in 2007 as Verticals onDemand, Inc., and subsequently rebranded to Veeva Systems Inc. in April 2009. Its corporate headquarters are situated in Pleasanton, California.

CEO
Peter Gassner
Headquarters
Pleasanton, CA
Employees
7,928
IPO
2013-10-16
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.