Veeva Systems Inc. (NYSE:VEEV) just released its third-quarter report and things are looking bullish. The company beat expectations with revenues of US$699m arriving 2.2% ahead of forecasts. Statutory earnings per share (EPS) were US$1.13, 7.2% ahead of estimates. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

View our latest analysis for Veeva Systems

After the latest results, the 30 analysts covering Veeva Systems are now predicting revenues of US$3.06b in 2026. If met, this would reflect a meaningful 15% improvement in revenue compared to the last 12 months. Per-share earnings are expected to swell 13% to US$4.64. In the lead-up to this report, the analysts had been modelling revenues of US$3.04b and earnings per share (EPS) of US$4.59 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The consensus price target rose 7.5% to US$267despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Veeva Systems' earnings by assigning a price premium. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Veeva Systems at US$320 per share, while the most bearish prices it at US$183. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that Veeva Systems' revenue growth is expected to slow, with the forecast 12% annualised growth rate until the end of 2026 being well below the historical 17% p.a. growth over the last five years. Compare this to the 70 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 9.9% per year. Factoring in the forecast slowdown in growth, it looks like Veeva Systems is forecast to grow at about the same rate as the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

With that in mind, we wouldn't be too quick to come to a conclusion on Veeva Systems. Long-term earnings power is much more important than next year's profits. We have forecasts for Veeva Systems going out to 2027, and you can see them free on our platform here.

You can also see our analysis of Veeva Systems' Board and CEO remuneration and experience, and whether company insiders have been buying stock.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.