VEEV vs CRM Stock Comparison: AI Score, Valuation, Performance and Upside
Veeva and Salesforce have a unique historical relationship — Veeva built its first CRM on Salesforce's platform — and are now separating as Veeva migrates to its own Vault platform. As investments, they represent vertical SaaS (Veeva's deep life sciences specialization) versus horizontal SaaS (Salesforce's broad enterprise CRM). Veeva's vertical focus creates deeper moats within life sciences; Salesforce's horizontal scale creates broader market coverage.
VEEV vs CRM is a classic vertical vs horizontal SaaS debate — Veeva's life sciences specialization creates deeper regulatory and workflow lock-in within a specific industry, while Salesforce's horizontal platform serves all industries with Agentforce AI as the new monetization layer at massive scale.
VEEV holds the edge across 3 of 5 key metrics in this comparison. CRM leads on both 1-year return (-2.60%) and forward P/E quality (16.19x vs 27.41x for VEEV), a relatively favorable combination of momentum and valuation. VEEV leads on both revenue growth (17.60%) and operating margin (29.64%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies similar upside for both: +4.76% for VEEV and +2.56% for CRM.
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- prefer a vertical SaaS market leader with near-monopoly in life sciences CRM and regulatory software
- value deep life sciences workflow integration creating switching costs that horizontal CRM vendors cannot match
- want exposure to pharma and biotech digitalization with a highly specialized platform at 35%+ operating margins
- are comfortable with life sciences industry spending sensitivity and Vault CRM migration execution risk
- prefer the horizontal CRM giant serving all industries at scale with Agentforce AI as the next growth driver
- value Salesforce's financial maturity ($35B+ revenue) and growing free cash flow for buybacks
- want cross-industry enterprise CRM exposure with multiple product clouds providing diversified revenue
- are comfortable with Veeva revenue headwind from platform separation and Agentforce ramp timing risk
| Metric | VEEV | CRM |
|---|---|---|
| AI scorei | 59.0 | 51.4 |
| AI ranki | #190 | #454 |
| Latest closei | $260.21 | $237.92 |
| 1M returni | +3.67% | +15.44% |
| 6M returni | +40.21% | +22.02% |
| 1Y returni | -6.76% | -2.60% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | VEEV | CRM |
|---|---|---|
| 1Y ago | $9.32K (-6.8%) started 2025-09-18 | $9.74K (-2.6%) started 2025-09-18 |
| 5Y ago | $8.75K (-12.5%) started 2021-09-20 | $9.35K (-6.5%) started 2021-09-20 |
| 10Y ago | $64.84K (+548.4%) started 2016-09-19 | $33.07K (+230.7%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | VEEV | CRM |
|---|---|---|
| Market capi | $45.45B | $210.69B |
| Trailing P/Ei | 46.10 | 23.42 |
| Forward P/Ei | 27.41 | 16.19 |
| Price/Salesi | N/A | 6.80 |
| EV/Revenuei | 11.02 | 5.50 |
| Analyst targeti | $294.07 | $262.54 |
| Target upsidei | +4.76% | +2.56% |
| Metric | VEEV | CRM |
|---|---|---|
| Revenue growthi | 17.60% | 10.80% |
| Earnings growthi | 39.50% | 118.90% |
| EPS growthi | +39.50% | +118.90% |
| FCF margini | +36.37% | +40.36% |
| Operating margini | 29.64% | 21.38% |
| Profit margini | 29.34% | 21.99% |
| ROIC proxyi | 14.42% | 19.38% |
| Return on equityi | 14.42% | 19.38% |
| Dividend yieldi | N/A | 0.69% |
| Payout ratioi | 0.00% | 15.68% |
| Dividend growth streaki | N/A | No increase yet |
| Betai | 0.92 | 1.15 |
| Debt/equityi | 2.04 | 110.42 |
| Current ratioi | 5.46 | 0.84 |
| Quick ratioi | 5.36 | 0.67 |
Over the past year, VEEV and CRM have moved strongly in the same direction (correlation of 0.72), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | VEEV | CRM |
|---|---|---|---|
| 1Y | Growthi | -6.76% | -2.60% |
| CAGRi | -6.77% | -2.61% | |
| Volatilityi | 42.61% | 47.56% | |
| Sharpe ratioi | -0.06 | 0.08 | |
| Sortino ratioi | -0.09 | 0.13 | |
| Max drawdowni | 50.55% | 43.61% | |
| Current drawdowni | 15.03% | 10.63% | |
| Avg drawdowni | 28.97% | 20.30% | |
| Ulcer Indexi | 32.94% | 24.56% | |
| Max daily dropi | 9.77% | 8.69% | |
| Max wkly dropi | 16.81% | 15.16% | |
| 5Y | Growthi | -12.49% | -7.20% |
| CAGRi | -2.64% | -1.49% | |
| Volatilityi | 39.46% | 39.46% | |
| Sharpe ratioi | 0.01 | 0.04 | |
| Sortino ratioi | 0.02 | 0.06 | |
| Max drawdowni | 53.54% | 59.08% | |
| Current drawdowni | 20.00% | 35.15% | |
| Avg drawdowni | 34.31% | 30.19% | |
| Ulcer Indexi | 36.54% | 33.99% | |
| Max daily dropi | 16.24% | 19.74% | |
| Max wkly dropi | 21.64% | 23.19% | |
| 10Y | Growthi | +548.42% | +228.25% |
| CAGRi | +20.56% | +12.63% | |
| Volatilityi | 38.81% | 36.58% | |
| Sharpe ratioi | 0.56 | 0.38 | |
| Sortino ratioi | 0.84 | 0.56 | |
| Max drawdowni | 55.69% | 59.08% | |
| Current drawdowni | 23.69% | 35.15% | |
| Avg drawdowni | 22.68% | 18.81% | |
| Ulcer Indexi | 28.66% | 25.11% | |
| Max daily dropi | 16.24% | 19.74% | |
| Max wkly dropi | 21.64% | 23.19% |
| Category | VEEV | CRM |
|---|---|---|
| Company | Veeva Systems Inc. | Salesforce, Inc. |
| Sector | Healthcare | Technology |
| Industry | Health Information Services | Software - Application |
| Core business | Veeva Systems provides cloud software specifically for the global life sciences industry — pharmaceuticals, biotech, and medical devices. Its platform spans commercial CRM (Veeva CRM/Vault CRM for sales reps), clinical operations (Vault CTMS, eTMF), regulatory submissions, and quality management systems. Veeva's narrow focus on a single vertical with very high regulatory requirements and complex data structures allows it to build much deeper functionality than horizontal CRM vendors could serve cost-effectively. Veeva recently began migrating its CRM customers from a Salesforce-based platform to its proprietary Vault CRM, marking a key strategic independence milestone. | Salesforce is the world's largest CRM company serving enterprises across all industries with Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, and Slack. Salesforce previously had a partnership with Veeva that provided the infrastructure for Veeva CRM, generating meaningful platform revenue — this relationship is unwinding as Veeva moves to its own Vault CRM platform. Salesforce's Agentforce AI agents and broad industry cloud portfolio position it for sustained enterprise CRM leadership. |
| Investor focus | Investors track Vault CRM migration progress (Veeva's transition off Salesforce), commercial cloud subscription revenue growth, Vault clinical and regulatory suite expansion into small and emerging biotech customers, and operating margin sustainability above 35%. | Investors focus on Agentforce AI paid adoption, multi-cloud expansion within existing enterprise accounts, RPO growth, and free cash flow per share from Salesforce's scale and margin expansion program. |
- Dominant market position in life sciences CRM with deep regulatory, clinical, and quality workflow integrations that horizontal CRM cannot replicate
- Vault CRM migration reduces Salesforce revenue share payments and strengthens Veeva's gross margins structurally
- High switching costs from deep integration into FDA submission processes, clinical trial management, and regulatory compliance workflows
- Dominant enterprise CRM with $35B+ in revenue across all industries — the horizontal platform that all vertical SaaS vendors historically built on
- Agentforce autonomous AI agents are the most commercially deployed enterprise AI product in CRM globally
- Scale enables R&D investment across every industry vertical including life sciences, which Salesforce is developing with specialized clouds
- Life sciences customer spending is sensitive to biotech funding cycles and pharmaceutical R&D budget cuts
- Vault CRM migration execution risk — migrating the entire life sciences CRM installed base to a new platform is a significant operational undertaking
- Salesforce is investing in life sciences-specific capabilities that could make it more competitive in the mid-market
- Veeva's migration off Salesforce removes a large recurring revenue relationship — Salesforce has acknowledged this as a headwind
- Growth deceleration from maturing seat-based CRM markets while Agentforce ramps creates a revenue growth gap period
- Microsoft Dynamics and HubSpot are growing at Salesforce's expense in non-enterprise and SMB segments
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