Veeva Systems Inc.

NYSE:VEEV Stock Report

Market Cap: US$34.0b

Veeva Systems Valuation

Is VEEV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VEEV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VEEV ($210.63) is trading below our estimate of fair value ($268.86)

Significantly Below Fair Value: VEEV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VEEV?

Key metric: As VEEV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VEEV. This is calculated by dividing VEEV's market cap by their current earnings.
What is VEEV's PE Ratio?
PE Ratio55.4x
EarningsUS$615.26m
Market CapUS$33.99b

Price to Earnings Ratio vs Peers

How does VEEV's PE Ratio compare to its peers?

The above table shows the PE ratio for VEEV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.3x
DOCS Doximity
53.5x9.5%US$9.6b
HSTM HealthStream
48.3x5.8%US$980.6m
SLP Simulations Plus
55.6x29.3%US$553.5m
RMD ResMed
31.9x11.1%US$34.9b
VEEV Veeva Systems
55.4x13.9%US$34.0b

Price-To-Earnings vs Peers: VEEV is expensive based on its Price-To-Earnings Ratio (55.4x) compared to the peer average (47.3x).

Price to Earnings Ratio vs Industry

How does VEEV's PE Ratio compare vs other companies in the Global Healthcare Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VEEV 55.4xIndustry Avg. 29.0xNo. of Companies10PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VEEV is expensive based on its Price-To-Earnings Ratio (55.4x) compared to the Global Healthcare Services industry average (29x).

Price to Earnings Ratio vs Fair Ratio

What is VEEV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VEEV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio55.4x
Fair PE Ratio34.9x

Price-To-Earnings vs Fair Ratio: VEEV is expensive based on its Price-To-Earnings Ratio (55.4x) compared to the estimated Fair Price-To-Earnings Ratio (34.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VEEV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$210.63
US$250.11
+18.7%
11.0%US$286.00US$173.00n/a27
Nov ’25US$212.78
US$234.63
+10.3%
10.7%US$286.00US$173.00n/a27
Oct ’25US$207.62
US$233.48
+12.5%
10.0%US$281.00US$173.00n/a27
Sep ’25US$216.44
US$231.08
+6.8%
10.1%US$281.00US$173.00n/a27
Aug ’25US$189.14
US$222.34
+17.6%
11.0%US$270.00US$173.00n/a27
Jul ’25US$181.67
US$222.32
+22.4%
11.6%US$270.00US$173.00n/a26
Jun ’25US$174.25
US$227.41
+30.5%
11.9%US$270.00US$173.00n/a25
May ’25US$198.90
US$241.81
+21.6%
8.0%US$270.00US$200.00n/a27
Apr ’25US$230.39
US$240.99
+4.6%
8.1%US$270.00US$200.00n/a28
Mar ’25US$222.01
US$232.50
+4.7%
11.0%US$270.00US$160.00n/a28
Feb ’25US$203.99
US$213.46
+4.6%
11.4%US$267.00US$160.00n/a26
Jan ’25US$192.52
US$211.81
+10.0%
11.0%US$267.00US$160.00n/a27
Dec ’24US$178.84
US$216.30
+20.9%
11.5%US$267.00US$160.00n/a27
Nov ’24US$187.05
US$227.33
+21.5%
9.2%US$275.00US$181.00US$212.7827
Oct ’24US$203.45
US$225.04
+10.6%
9.2%US$275.00US$181.00US$207.6225
Sep ’24US$216.57
US$222.62
+2.8%
9.0%US$275.00US$181.00US$216.4426
Aug ’24US$202.75
US$214.19
+5.6%
11.2%US$275.00US$170.00US$189.1427
Jul ’24US$197.73
US$212.00
+7.2%
11.1%US$275.00US$170.00US$181.6726
Jun ’24US$198.30
US$209.77
+5.8%
11.7%US$275.00US$170.00US$174.2526
May ’24US$180.00
US$209.00
+16.1%
11.1%US$275.00US$170.00US$198.9025
Apr ’24US$183.79
US$209.28
+13.9%
11.1%US$275.00US$170.00US$230.3925
Mar ’24US$166.13
US$207.14
+24.7%
10.1%US$265.00US$170.00US$222.0126
Feb ’24US$173.37
US$209.40
+20.8%
10.2%US$265.00US$170.00US$203.9927
Jan ’24US$161.38
US$211.80
+31.2%
10.4%US$265.00US$170.00US$192.5227
Dec ’23US$191.42
US$212.36
+10.9%
9.9%US$257.00US$170.00US$178.8425
Nov ’23US$163.75
US$212.36
+29.7%
10.1%US$257.00US$170.00US$187.0525

Analyst Forecast: Target price is less than 20% higher than the current share price.

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