On August 27, Veeva rose 7.98% in pre-market trading, trading at $264.2/share, with turnover of $123,700. The surge was driven by the company's fiscal Q2 results that comprehensively exceeded Wall Street estimates.

Veeva reported fiscal Q2 adjusted EPS of $2.35, beating the consensus estimate of $2.22 by 5.86% and representing an 18.09% year-over-year increase from $1.99. Revenue came in at $928.0 million versus the expected $905.4 million, up from $789.1 million a year ago. For fiscal Q3, the company guided adjusted EPS of $2.33 to $2.34 on revenue of $932 million to $935 million, above analyst expectations of $2.28 EPS on $918.1 million revenue. Full-year fiscal 2027 adjusted EPS guidance was raised to approximately $9.21, surpassing the FactSet estimate of $9.06.

Ahead of the earnings release, Veeva secured Biogen, Regeneron, and Eli Lilly as global Vault CRM clients, bringing commitments from 13 of the top 20 pharmaceutical companies. Multiple institutions had already raised price targets, with Guggenheim and Stifel setting targets at $276 and $275 respectively while maintaining Buy ratings.

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