$VEEV — hold 📊 | 6 months thesis

🎯 FQ2 FY2027 (ends Jul) | reported Aug 26 | Rev $928M | Adj EPS $2.35 vs $2.22 🟢 | GAAP EPS $1.69 | GAAP op margin 29.6% 💡 Mixed and narrowing. The near-term gap is closed: the Aug 26 beat-and-raise has already been paid for with a ~50% single-quarter re-rating and multiple sell-side target hikes (Citi to $273 Neutral, Wells Fargo to $330 Overweight/best idea). 🏢 Business Quality: 8/10 📊 Valuation: Not cheap, not stretched for the quality. Spot $296.05 on 161.9M shares = ~$47.9B market cap; net of ~$7.2B cash and negligible debt, EV is roughly... 🔮 Catalyst: FQ3 FY27 (quarter ends 10/31/26) earnings, expected ~Nov 19-25, 2026, followed by the larger FQ4 FY27 print plus initial FY28 guidance in late Feb/early Mar 2027. ⚖️ Hold — prior Hold stands — a flip to Buy at confidence 6 (<7) was blocked with no material change. 📊 Our read: HOLD. Full analysis → https://stockduty.xyz/s/VEEV1009

🎯 FQ2 FY2027 (ends Jul) | reported Aug 26 | Rev $928M | Adj EPS $2.35 vs $2.22 🟢 | GAAP EPS $1.69 | GAAP op margin 29.6%