Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price260.80 USD
Fair value262.76
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-07-18Read Markup172.61+51.1% to today ✓
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Veeva Systems holds its Markup at $260.80. The statistical read favours the sellers, held for 16 days.
As held on the ledger · 2026-09-09
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 16 days
Price at the screen
$260.80
Valuation
42.82 trailing · 25.44 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.97
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
1.07%
Below 33%
Interest-bearing debt is just 1.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
57.24%
Below 33%
Interest-bearing cash and securities are 57.2% of assets, above the one-third limit.
Fail
Receivables
29.86%
Below 49%
Money owed to the company is 29.9% of assets, under the 49% limit.
Pass
Revenue purity
8.36%
Below 5%
8.4% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades at roughly a 1% discount to our $262.76 fair value, moderate competitive moat, 17.60% revenue growth.
Fair value range in USD, drawn from the 2026-09-09 screen. The gold marker is the market price at the same screen. A 0.8% margin of safety to the base estimate.
Third-party analyst targets: 27 covering, consensus Buy. The average target sits +15% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-09 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Pharma cloud tools pass the eye test
Veeva gives drug makers a single cloud platform to run trials, sales and compliance across continents. Revenue climbs 16 percent a year, margins sit at 28 percent and return on equity reaches 14 percent, all with a moderate moat.
We pass. The ethical screen flags holdings in interest-bearing securities, a clear line that overrides any margin of safety or analyst buy ratings.
Valuation at 19.5 times forward earnings leaves little room if growth slows or rivals gain ground in life-sciences software. Currency and sector cycles add further pressure.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
VEEV trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-26Markup$247.90+0.0%Entry 12
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-25Markup$247.90+0.0%Entry 11
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-24Markup$247.90+0.0%Entry 10
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-23Markup$247.90+0.0%Entry 9
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-22Markup$247.90+16.1%Entry 8
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 16.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-21Markup$213.51+0.0%Entry 7
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-20Markup$213.51+0.0%Entry 6
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-19Markup$213.51+0.0%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-16Markup$213.51+23.7%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 23.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263.
2026-07-18Markup$172.61+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 42%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (28 analysts) rates it buy, with a mean price target of $263.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
