William Blair Remains Bullish on Veeva Systems (VEEV) After Solid Q1

William Blair analyst Dylan Becker maintained a bullish stance on Veeva Systems Inc. (NYSE:VEEV) and gave it a Buy rating on May 29. The analyst based the rating on the stock’s notable fiscal Q1 2026 results, reported on May 28, which surpassed expectations with significant growth in both subscription and total revenues.

Total revenues for fiscal Q1 2026 reached $759.0 million, undergoing a 17% year-over-year growth. Subscription services revenue also grew 19% year-over-year to reach $634.8 million.

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The analyst reasoned that Veeva Systems Inc. (NYSE:VEEV) maintained a stable purchasing environment despite broader economic uncertainties, resulting in broad-based momentum and a strong pipeline.

The company also raised its financial outlook, projecting total revenues between $766 million and $769 million in fiscal Q2 2026. The analyst stated that the raised outlook was supported by success in Q1 and favorable foreign exchange movements, pointing towards a promising future.

Becker acknowledged that while there may be some short-term challenges for Veeva Systems Inc. (NYSE:VEEV) due to its competitor Salesforce Inc., a strong start to the year reflects VEEV’s potential to achieve sustained growth across its R&D and commercial platforms. According to the analyst, these factors position Veeva Systems Inc. (NYSE:VEEV) on track to achieve a $6 billion run-rate target by 2030.

Veeva Systems Inc. (NYSE:VEEV) provides industry cloud solutions for the global life science industry. Its offerings include cloud software, data, and business consulting. The company’s product categories encompass Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud.

While we acknowledge the potential of VEEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VEEV and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.