Michael Burry Remains Bullish on Veeva but Trimmed His Position. What This Means for VEEV Stock.
Michael Burry remains bullish on Veeva Systems (VEEV), but he has trimmed his stake following the company's impressive post-earnings rally. Veeva's shares jumped over 15% in one session, making it one of the top gainers in the S&P 500. The software company behind cloud solutions for drugmakers and biotech firms reported strong fiscal second-quarter results, with adjusted EPS of $2.35 surpassing the $2.22 consensus estimate.
The company also raised its fiscal 2027 adjusted EPS outlook to $9.21 from $9.05. Despite trading at 41.92x forward earnings, VEEV's strong performance has kept investor interest, especially given Burry's belief that the stock trades below its intrinsic value.
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