Coverage ended 6 updates · Last at 4:35pm ET

Live: Will Veeva Systems Rally After Q4 Earnings Tonight?

By Eric Bleeker · Updated Mar 4, 4:35pm ET · Published Mar 4, 3:24pm ET

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More On Guidance

With the numbers already covered, the real question now is whether the guidance Veeva just issued is enough to sustain a meaningful rally. Based on the company’s track record, the guidance may have built-in cushion based on prior quarters.

Veeva has beaten its own revenue guidance by 2.35% to 4.22% every quarter this fiscal year, and EPS by 4.55% to 12.98%. That pattern of conservative guidance means the $3.585B–$3.600B FY2027 revenue target likely has built-in cushion. Analysts currently have a consensus price target of $293.10 against today’s close near $188.48.

Watch the earnings call at 5:00 PM ET for specifics on Vault CRM commitments and AI monetization. Any commentary pushing toward the upper end of guidance or accelerating the $6B 2030 target would suggest the company is tracking ahead of its long-term targets.

Key Operating Highlights

Vault CRM migration continues to build momentum.
AI Agents launched in December already have customers live.
Crossix also delivered strong measurement growth.

KPI Q4 Update Why It Matters
Total Customers 1,552 Expanding industry penetration
Vault CRM Live 125+ customers CRM migration accelerating
Top 20 Biopharma Commitments 10 committed, ~14 expected Long-term visibility
Subscription Revenue $707.7M (+16%) Recurring revenue strength
Non-GAAP Op Margin 43.8% Elite profitability

Guidance Update

Q1 FY2027 Guidance

Metric Guidance
Revenue $855–$858M
Non-GAAP Operating Income $378–$381M
Non-GAAP EPS $2.13–$2.14

FY2027 Updated Guidance

Metric New Guidance
Revenue $3.585B–$3.600B
Non-GAAP Operating Income $1.59B
Non-GAAP EPS $8.85

This implies continued mid-teens revenue growth with operating leverage.

Management also reaffirmed confidence in reaching a $6B revenue run rate by 2030. That is double the TTM rev figure.

Earnings Are In And Stock Soaring- Here is Why

Veeva delivered a strong beat across revenue, EPS, and margins  and importantly, raised FY2027 guidance.

Earnings Scorecard

Metric Actual Estimate Result
Revenue $836.0M ~$808.5M ✅ Beat
Non-GAAP EPS $2.06 $1.94 ✅ Beat
FY26 Revenue $3.20B ~$3.17B ✅ Beat
FY26 Non-GAAP EPS $8.10 ~$7.93 ✅ Beat

Revenue grew 16% YoY, well above the ~12% expected.
Non-GAAP operating margin expanded to 43.8%, up from 42.7% last year.

This is exactly the kind of print that resets a software multiple. Strong growth, expanding margins, AI traction, and raised forward guidance. That’s why the stock is ripping.

Will post more shortly on guidance.

What I Will Be Watching

1. Revenue vs. ~$808.5M
A clean beat reinforces steady double-digit growth. A miss feeds the “software slowdown” narrative.

2. Non-GAAP EPS vs. $1.94
They’ve strung together consistent beats. Another upside surprise would highlight execution strength despite macro rotation out of software.

3. Operating Margin
Last year’s Q4 margin was 42.7%. If margins expand while investing in AI and services, that signals operating leverage remains intact.

4. Vault CRM Migration Update
Still 14 of top 20 biopharmas committed last quarter. Any increase in that number materially improves long-term revenue visibility.

5. AI Agent Traction
Quantified adoption or early monetization signals matter. Even one meaningful enterprise win could shift the growth narrative.

6. FY2027 / Long-Term Tone
The stock is down ~16% YTD despite strong execution. If management speaks confidently about the path to the $6B 2030 target, this could reset sentiment.

Veeva Shares Up Before Earnings

It’s been a good day in general for stocks. Veeva shares are up about 1.2% as of 3:20 p.m. ET. That’s a little below the Nasdaq, which is up 1.3%.

As we noted in our preview, CrowdStrike shares rose 3% after reporting guidance that slightly exceeded expectations. That’s a template for Veeva tonight. Bullish commentary on calendar 2026 demand could lead to the stock reversing recent declines.

Live coverage has ended. The full story is below.

Full Coverage

The story so far

Veeva Systems (NYSE: VEEV | VEEV Price Prediction) reports Q4 FY2026 results after the market close tonight, March 4, 2026. Shares have been under pressure so far in 2026 as investors rotate out of software. GitLab was the latest victim in the sector last night. After reporting poor EPS guidance for this year, shares dropped 8%.

On the other end of the spectrum, CrowdStrike delivered solid earnings guidance and is up 3% today. So, today could be an opportunity for Veeva to reset the poor narrative that’s been overhanging the stock in recent months.

What the Street Expects

Metric Q4 FY2026 Estimate Q4 FY2025 Actual YoY Change
EPS (Non-GAAP) $1.94 $1.74 +$0.20
Revenue ~$808.5M $720.89M ~+12%
Full Year EPS ~$7.93 $6.60 +$1.33
Full Year Revenue ~$3.17B $2.75B ~+15%

Last Quarter and the Stock Since Then

Veeva posted a strong Q3, with revenue of $811 million and non-GAAP EPS of $2.04 against a $1.95 estimate. Management raised full-year guidance and called it “an excellent Q3 with strength across the business.”

The stock has not rewarded that performance. Shares are down 16.28% year to date, sitting at $186.90 as of March 4, 2026. That gap between business performance and stock price is the tension heading into tonight. Investors have re-rated software to lower multiples, can Veeva deliver strong enough earnings to reverse this re-rating?

Key Things to Watch Tonight

  • Vault CRM migration progress. 115 customers were live on Vault CRM as of Q3, with 14 of the top 20 biopharmas committed to migrate. Any update on that top-20 count or new commitments will move the needle on long-term revenue confidence.
  • Veeva AI traction. The first AI agents for CRM and commercial content launched in December 2025. Management promised agents across all applications by end of 2026. Watch for early adoption signals or customer wins that validate the pricing power story.
  • Margin trajectory. Non-GAAP operating income guidance for Q4 is approximately $350 million. That compares to a 42.7% non-GAAP operating margin in Q4 FY2025. Continued expansion here would signal the business is scaling efficiently even as it invests in AI and services.
  • FY2027 guidance tone. With analyst targets averaging $293 against a stock trading near $187, the market is pricing in skepticism. How management frames the path toward its $6 billion 2030 revenue target will matter as much as the Q4 print itself.

Contact [email protected] for any questions or corrections.

Eric Bleeker

Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.

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