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VEEV · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Veeva Systems Inc. (VEEV) stock moving?
Sell-side sentiment improved after Veeva's Nov 5 2026 Investor Day, with a cluster of price-target raises from Nov 6 to Nov 9. Jefferies ($375), Barclays ($375), RBC ($365), Truist ($360), BTIG ($360), and Needham ($360) sit at the top of the range. Stifel ($340), Mizuho ($345), UBS ($325) and Evercore ($325) are more moderate, and Canaccord ($315, Hold) is the lowest. Most of the recent ratings are Buy or Outperform, though UBS, Evercore and Canaccord remain neutral. The stock has not followed the revisions: it fell from 322.55 on Oct 22 to 305.55 on Nov 10, about 5% lower, and it sits below nearly all of the new targets. Investor Day produced the heaviest volume in the window (2.15M shares on Nov 5, roughly 1.5 times the typical daily level), but the price faded afterward, hitting a low of 294.99 on Nov 6. Volume has eased since, falling to 1.07M shares on Nov 10. The Nov 2 departure of President and Chief Customer Officer Tom Schwenger is a leadership loss, though not at CEO or CFO level. New customer wins such as UCB adopting Vault CRM support the commercial story. Overall, the analyst backing is constructive, while the share price has yet to confirm it.
News behind the analysis
- Canaccord Genuity Maintains Hold on Veeva Systems, Raises Price Target to $315Canaccord kept its Hold rating and lifted its price target to $315, the lowest target among the recent updates.
- Truist Securities Maintains Buy on Veeva Systems, Raises Price Target to $360Truist reaffirmed its Buy rating and raised its price target to $360.
- BTIG Maintains Buy Rating and Raises Price Target for Veeva SystemsBTIG reaffirmed its Buy rating and raised its price target from $340 to $360.
- Jefferies Maintains Buy on Veeva Systems, Raises Price Target to $375Jefferies kept its Buy rating and raised its price target to $375, the highest target in the recent coverage.
- UBS Maintains Neutral on Veeva Systems, Raises Price Target to $325UBS kept a Neutral rating and raised its price target to $325, close to the current share price.
- RBC Raises Price Target on Veeva Systems to $365 From $325, Keeps Outperform RatingRBC Capital Markets raised its price target to $365 from $325 and kept its Outperform rating.
- Stifel Adjusts Price Target on Veeva Systems to $340Stifel raised its price target to $340 from $300.
- UCB Selects Veeva Vault CRM for Agentic EngagementPharmaceutical company UCB committed to adopting Veeva's Vault CRM agentic engagement platform for life sciences.
- Tom Schwenger Departs Veeva Systems to Become CEO of Omnicom Health MarketingTom Schwenger, Veeva's President and Chief Customer Officer, left the company to lead Omnicom Health's marketing business.
- Mizuho Adjusts Price Target on Veeva SystemsMizuho raised its price target from $280 to $345.
About Veeva Systems Inc.
Veeva Systems is a Pleasanton, California–based company that makes cloud software for the pharmaceutical, biotech and wider life sciences industries. What sets it apart is its focus on one industry: its Vault platform covers clinical trials, regulatory, quality, safety and commercial work (CRM), and it also sells industry data and is adding Veeva AI agents to its applications.
How it makes money
Most of its revenue comes from subscriptions to its software and data products, about 84% of roughly $3.2 billion in fiscal 2026 (year ended January 2026). Professional services such as implementation and consulting make up the remaining ~16%. Customers are mostly drug and biotech companies. Its products fall into Commercial Cloud (Vault CRM, data and analytics like Crossix) and Development and Quality Clouds (clinical, regulatory, safety and quality software). For fiscal 2027 the company guided to revenue of about $3.7 billion.
What usually moves VEEV
- Wins and losses of big pharma customers, including the move from Salesforce-based CRM to Vault CRM
- Growth in R&D software (Development and Quality Clouds)
- Life sciences R&D and sales budgets
- Uptake of Veeva AI agents
- Quarterly results and guidance versus expectations