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VEEV
ACCE-researched

Veeva Systems Inc. Class A Common Stock (VEEV) fair value

Healthcare · Health Information Services · NYSE · United States
$323.04+0.15%
Market cap $52.2BNext earnings 2026-11-19Updated Oct 20, 2026
Add earnings to calendarGoogle
Our verdict
Trades 79% above our fair value
Price
$323.04
Model fair valueConfidence: good
$180
Model range
$130 to $222
Fair value $180
Price $323
2 models fit Veeva Systems Inc. Class A Common Stock and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Silver68
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionVeeva Systems Inc. Class A Common Stock (VEEV)
Fair value (2 models)
$180
ACCE price target
$288
Rating
Overvalued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $281 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 01:52 CEST; previously $267 since 20 Sept 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $323 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
79.2% above
-44.2% to fair value
ACCE score
71
out of 100
Analysts
69% buy
29 covering
P/E
52.5x
forward 30.2x
1-year return
+10.8%
Dividend yield
0.00%

Veeva Systems Inc. Class A Common Stock in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Veeva sells cloud software to life sciences companies, including the Vault platform used for clinical trial and regulatory records, and its CRM product for drug sales teams. The 75.0% gross margin and 29.6% operating margin show a software model that earns well. Revenue grew 17.6% and ROE is 14.4%. The trailing PE of 48.5 falls to 30.2 forward. The internal score is 72/100.

AI-assisted·How I use AIWritten Oct 12, 2026
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
  • high
    Valuation well above fair value
    Forward P/E 30.2 and EV/EBITDA 34.2 reflect premium pricing; limited margin of safety.
  • moderate
    Insider selling concentration
    Last 10 disclosed transactions: $10.01M in sales, $0.00M in buys. No offsetting insider conviction signal.
  • moderate
    Valuation score remains weak
    V score 27/100 despite recent ACCE improvement. Reflects structural overvaluation relative to growth and profitability metrics.

AI research notes

AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-07-31 · prices to Oct 23, 2026
Why it could do well
  • Revenue growth of 17.6% year over year and 16.9% five-year average shows durable expansion in a healthcare software market.
  • Net margin of 29.3% and free cash flow of 1.4B demonstrate the business converts sales into cash with exceptional efficiency.
  • Analyst consensus rates 69% of coverage as Buy or Strong Buy, with mean target only 0.3% below current price.
Why it could disappoint
  • Reverse DCF implies only 7.8% annual cash flow growth over five years, well below the 17.6% revenue growth rate.
  • Free cash flow yield of 2.9% is thin relative to the 5.2% risk-free rate, offering limited margin of safety.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Nov 19, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

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Valuation

INVESTOR
Where VEEV's valuation models land
Price
$323.04
Model fair value
$180
Model range
$130 to $222
Fair value $180
Price $323
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.

Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Bullish69% buy · 29 covering analysts
● Strong buy 13● Buy 7● Hold 8● Sell 0● Strong sell 1
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
+4.1%
1 month
+19.3%
3 months
+73.5%
6 months
+100.5%
YTD
+44.7%
1 year
+10.8%

SEC filings

Recent ACCE blog coverage

  • $VEEV Posts 16% Revenue Growth, EPS Up 23% in Latest Quarter
    Veeva Systems reported 16% revenue growth and 23.2% EPS growth in its latest quarter. Here's what the numbers say about $VEEV heading into the back half of 2026.
    2026-06-03

Recommendation history, last 12 months

DateTypeNewPreviousPrice
20 Oct 2026, 16:04 CESTRatingOvervaluedfirst publication$317
20 Oct 2026, 16:04 CESTFair value$180$281$317
18 Oct 2026, 01:52 CESTACCE price target$288$267$310
16 Oct 2026, 00:00 CESTFair value$281$288$297
11 Oct 2026, 00:00 CESTFair value$288$208$296
7 Oct 2026, 00:00 CESTFair value$208$204$283
29 Sept 2026, 00:00 CESTFair value$204$211$281
20 Sept 2026, 00:00 CESTACCE price target$267first publication$260
15 Sept 2026, 00:00 CESTFair value$211$215$262
12 Sept 2026, 00:00 CESTFair value$215$212$261

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth88Value24Quality90Momentum83Total71
Valuation
Trailing P/E
52.5x
Forward P/E
30.2x
PEG
1.21
P/B
5.90x
EV / Revenue
10.6x
Book value/sh
$45.92
Enterprise value
$36.7B
Profitability
ROE
14.4%
FCF yield
2.67%
ROIC
10.2%
Health and risk
Debt / equity
0.01
Dividend yield
0.00%
Beta
0.93

Price

+10.2% · 1Y

Ask anything about VEEV

Answered from Veeva Systems Inc. Class A Common Stock fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 33% of peers
low 0.0x52.5xhigh 76.3x
ROEbetter than 67% of peers
low -67%14%high 75%
Div yieldbetter than 67% of peers
low 0.0%0.0%high 1.1%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
VEEV Veeva Systems Inc. Class A Common Stock$323.04$18079% above52.5x14.4%9071
PME.AX Pro Medicus LimitedA$193.42--76.3x75.0%10066
BTSG BrightSpring Health Services Inc. Common Stock$60.86$3572% above54.6x13.0%4469
TEM Tempus AI Inc. Class A Common Stock$63.81----67.4%3341
HNGE Hinge Health Inc. Class A Common Stock$109.93$16333% below36.3x30.4%9370
HQY HealthEquity Inc. Common Stock$100.97$8519% above35.3x11.4%7866
2413.T M3, Inc.¥1934.50--28.2x12.0%7456

Sector report card

Where VEEV ranks against its sector peers on each metric.

Computing percentiles…
  • Business Wire•Oct 13, 2026
    IQVIA Selects Veeva Clinical Operations Applications
  • PR Newswire•Oct 13, 2026
    IQVIA Selects Veeva Clinical Operations Applications
  • PR Newswire•Oct 8, 2026
    Veeva Summit to Showcase AI Innovations and the Leaders Transforming R&D and Quality
12 more press releases · full archive on Investor+.INVESTOR
40 filings
October 2026
Oct 19
Form 4Insider transactionPeriod 2026-10-15
View on SEC →
Oct 16
Form 4Insider transactionPeriod 2026-10-14
View on SEC →
Oct 5
Form 4Insider transactionPeriod 2026-10-01
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR