Veeva Systems (VEEV) PT Raised to $280 at Mizuho

Mizuho analyst Steven Valiquette raised the price target on Veeva Systems (NYSE: VEEV) to $280.00 (from $275.00) while maintaining a Outperform rating.

The analyst commented: "Consistent with our 3-4 major BioPharma R&D and marketing channel checks from our Veeva initiation report, VEEV's cloud software outlook is robust and accelerating, as evidenced by the company's FY25 guidance raise from +14% rev growth to +15%, and EPS from $6.22 (+29% growth) to $6.44 (+33% growth). Even though VEEV had a positive pre-announcement for its F3Q25, the final results came in even better-than-expected with F3Q revs at $699 mln vs. guidance of $682-685 mln, and EPS of $1.75 in F3Q25 handily beating $1.57-1.58 guidance. We expect the stock to react favorably to the overall 'beat and raise' for FY25. We raise our FY25 EPS view from $6.25 to $6.44, FY26 from $7.00 to $7.13, and FY27 from $7.90 to $8.00. We raise our PT from $275 to $280 on same 35x P/E on our higher CY26 EPS view of $8.00 (was $7.90)."

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