Analyst Consensus ?
ConsensusBuy44 ratings
Bullish3681.8%
Neutral715.9%
Bearish12.3%
IQVIA Holdings Inc. · IQV · FY2026 Q1 · Calendar Q2 2026
IQVIA Beats Q1 2026 on Record Revenue, Raises EPS Guidance as AI Agent Deployments Scale
IQVIA's Q1 FY2026 results reinforce an AI-driven growth narrative, with record revenue of $4.15B, a $34.2B backlog, and AI agent deployments scaling to 192 across 64 use cases. The raised full-year EPS guidance to $12.65-$12.95 and confident management tone indicate continued operational momentum. Key questions center on whether FX tailwinds can persist and how pass-through mix affects profitability optics.
Reported Before market openNYSEHealthcare
$41.35B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.90
Consensus $2.82
EPS surprise
+2.8%
Reported versus consensus
Reported revenue
$4.15B
Consensus $4.10B
Revenue surprise
+1.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+9.6%
Event window
SPY move
+0.8%
Same window
Abnormal move
+8.8%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
+3.2%
Up to 20 sessions
IQVSPY benchmark
Ask FN2 about IQV FY2026 Q1
Transcript, numbers and history already loaded
Why did IQV rise 9.6% after beating EPS estimates in FY2026 Q1?What changed in IQV's guidance and outlook in FY2026 Q1?Give me the bull and bear case for IQV after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Q1 FY2026 revenue of $4.151B beat consensus of $4.100B by 1.2%, while adjusted EPS of $2.90 exceeded estimates of $2.82 by 2.8%. Both metrics came in above the high end of company guidance. Backlog grew to a record $34.2B from $32.7B in Q4 2025, with $8.9B expected to convert to revenue within 12 months. AI agent deployments expanded from 150 across 30 use cases to 192 across 64, with 19 of the top 20 pharma companies now using them. EBP funding reached $25B in Q1, nearly double the prior year. The stock rose 9.6% on the event session (8.8% above benchmark) on 2.6x normal volume, followed by a 3.2% subsequent drift. As of July 30, IQV trades at $247.78, above the analyst consensus target of $234.50.
Guidance delta
Full-year 2026 adjusted diluted EPS guidance was raised to $12.65-$12.95. Revenue guidance was reaffirmed at the 5-6% growth range introduced in Q4 2025. Guidance sentiment remained 'raised' from the prior quarter. Capex outlook remains stable.
Key takeaways
- Q1 revenue of $4.151B and adjusted EPS of $2.90 both exceeded the high end of guidance and consensus estimates
- Organic growth accelerated: Commercial Solutions at 5%, R&D Solutions at 3%
- Record backlog of $34.2B, up from $32.7B in Q4 2025, with $8.9B expected to convert within 12 months
- AI agent deployments expanded to 192 across 64 use cases, up from 150 across 30 in the prior quarter
- New strategic partnerships announced with Pfizer (23 European countries), Boehringer Ingelheim (59 countries), and Duke Clinical Research Institute
- EBP funding reached $25B in Q1, nearly double the prior year, indicating strong biotech financing demand
Management priorities
- Scale AI agent deployment across additional use cases and expand the iqvia.ai marketplace
- Deepen partnerships with Pfizer, Boehringer Ingelheim, and Duke Clinical Research Institute
- Expand AI-ready data foundation services and the iqvia.ai platform
- Advance clinical research in obesity and cardiometabolic trials through the Duke collaboration
- Continue product innovation in Patient Solutions, Analytics, and Consulting
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$278.64Current
$175.38Low
$267.5Average
$345High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stifel | Buy | Buy | Maintain | Oct 14, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Oct 7, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 7, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 29, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 28, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 17, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 8, 2026 |
| UBS | Buy | Buy | Maintain | Feb 6, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 6, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Feb 6, 2026 |
| HSBC | Buy | Hold | Upgrade | Oct 9, 2025 |
| B of A Securities | Buy | Buy | Maintain | Dec 13, 2024 |
| Leerink Partners | Outperform | Outperform | Maintain | Nov 19, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 1, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 1, 2024 |
| BTIG | Buy | Buy | Maintain | Nov 1, 2024 |
| Guggenheim | Neutral | Buy | Downgrade | Feb 15, 2024 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | May 1, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 13, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Dec 6, 2022 |
| SVB Leerink | Outperform | Outperform | Maintain | Jul 15, 2022 |
| Piper Sandler | Overweight | Neutral | Upgrade | Apr 29, 2022 |
| Keybanc | Overweight | Overweight | Maintain | Apr 28, 2022 |
| Argus Research | Buy | Buy | Maintain | Sep 10, 2021 |
| Stephens & Co. | Overweight | Equal Weight | Upgrade | Apr 16, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Apr 29, 2020 |
| CFRA | Buy | Buy | Maintain | Mar 24, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Feb 13, 2020 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Nov 14, 2019 |
| Argus | Buy | Buy | Maintain | Feb 25, 2019 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Aug 31, 2018 |
| Bank of America | Buy | Neutral | Upgrade | Jul 25, 2018 |
| Mitsubishi UFJ | Neutral | Neutral | Maintain | Dec 15, 2017 |
| William Blair | Outperform | Market Perform | Upgrade | Aug 4, 2017 |
| PiperJaffray | Neutral | Overweight | Downgrade | Oct 27, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jul 28, 2016 |
| Avondale Partners | Market Perform | Market Perform | Maintain | May 3, 2016 |
| Wunderlich | Buy | Buy | Maintain | Nov 26, 2014 |
| ISI Group | Buy | Neutral | Upgrade | Oct 10, 2014 |
| Sterne Agee | Underperform | Underperform | Maintain | Jun 11, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $278.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Robert W. Baird | Analyst unavailable | $328 | $271.53 | +17.7% | Oct 27, 2026 |
| Stifel Nicolaus | Analyst unavailable | $303 | $260.71 | +8.7% | Oct 14, 2026 |
| Mizuho Securities | Analyst unavailable | $300 | $260.16 | +7.7% | Oct 7, 2026 |
| Barclays | Luke Sergott | $300 | $260.16 | +7.7% | Oct 7, 2026 |
| UBS | Analyst unavailable | $345 | $269.19 | +23.8% | Sep 30, 2026 |
| Truist Financial | Analyst unavailable | $329 | $270.37 | +18.1% | Sep 28, 2026 |
| Morgan Stanley | Analyst unavailable | $270 | $268.82 | -3.1% | Sep 17, 2026 |
| RBC Capital | Analyst unavailable | $247 | $246.03 | -11.4% | Jul 29, 2026 |
| BMO Capital | Sean Dodge | $270 | $249.51 | -3.1% | Jul 29, 2026 |
| Robert W. Baird | Eric Coldwell | $287 | $243.31 | +3.0% | Jul 29, 2026 |
| Mizuho Securities | Ann Hynes | $230 | $207.85 | -17.5% | Jul 13, 2026 |
| Deutsche Bank | Analyst unavailable | $240 | $208 | -13.9% | Jul 9, 2026 |
| HSBC | Sidharth Sahoo | $240 | $206.42 | -13.9% | Jul 6, 2026 |
| Robert W. Baird | Analyst unavailable | $249 | $193.22 | -10.6% | Jul 1, 2026 |
| Morgan Stanley | Kallum Titchmarsh | $200 | $179.17 | -28.2% | Jun 17, 2026 |
| HSBC | Analyst unavailable | $210 | $180.64 | -24.6% | Jun 3, 2026 |
| Morgan Stanley | Analyst unavailable | $225 | $179.31 | -19.3% | May 7, 2026 |
| Evercore ISI | Elizabeth Anderson | $185 | $172.54 | -33.6% | Apr 8, 2026 |
| Mizuho Securities | Analyst unavailable | $215 | $165.62 | -22.8% | Feb 23, 2026 |
| Truist Financial | Analyst unavailable | $245 | $165.64 | -12.1% | Feb 19, 2026 |
| Morgan Stanley | Analyst unavailable | $240 | $178.88 | -13.9% | Feb 11, 2026 |
| UBS | Analyst unavailable | $240 | $184.01 | -13.9% | Feb 6, 2026 |
| BMO Capital | Analyst unavailable | $250 | $184.75 | -10.3% | Feb 6, 2026 |
| Stifel Nicolaus | Analyst unavailable | $220 | $184.67 | -21.0% | Feb 6, 2026 |
| Barclays | Luke Sergott | $210 | $180.96 | -24.6% | Feb 6, 2026 |
| Evercore ISI | Elizabeth Anderson | $225 | $180.96 | -19.3% | Feb 5, 2026 |
| Mizuho Securities | Analyst unavailable | $266 | $243.19 | -4.5% | Jan 9, 2026 |
| UBS | Dan Leonard | $280 | $242.66 | +0.5% | Jan 8, 2026 |
| Truist Financial | Jailendra Singh | $290 | $241.1 | +4.1% | Jan 8, 2026 |
| Barclays | Analyst unavailable | $230 | $222.26 | -17.5% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $265 | $228.47 | -4.9% | Dec 1, 2025 |
| Stifel Nicolaus | Analyst unavailable | $254 | $219.8 | -8.8% | Oct 29, 2025 |
| UBS | Dan Leonard | $250 | $219.64 | -10.3% | Oct 29, 2025 |
| Robert W. Baird | Eric Coldwell | $258 | $218.13 | -7.4% | Oct 29, 2025 |
| HSBC | Analyst unavailable | $235 | $200.6 | -15.7% | Oct 9, 2025 |
| Evercore ISI | Analyst unavailable | $240 | $200.86 | -13.9% | Oct 8, 2025 |
| Barclays | Luke Sergott | $200 | $203.79 | -28.2% | Oct 2, 2025 |
| Redburn Partners | Jamie Clark | $214 | $181.58 | -23.2% | Sep 3, 2025 |
| Mizuho Securities | Ann Hynes | $225 | $199.17 | -19.3% | Jul 25, 2025 |
| Redburn Partners | Jamie Clark | $188 | $137 | -32.5% | May 23, 2025 |
| Mizuho Securities | Ann Hynes | $190 | $140.43 | -31.8% | May 15, 2025 |
| Barclays | Luke Sergott | $165 | $146.2 | -40.8% | May 7, 2025 |
| HSBC | Sidharth Sahoo | $160 | $150.28 | -42.6% | Apr 25, 2025 |
| Truist Financial | Jaliendra Singh | $265 | $210.19 | -4.9% | Nov 4, 2024 |
| Evercore ISI | Elizabeth Anderson | $235 | $205.82 | -15.7% | Oct 31, 2024 |
| RBC Capital | Sean Dodge | $270 | $217.54 | -3.1% | Oct 29, 2024 |
| Deutsche Bank | Justin Bowers | $270 | $232.98 | -3.1% | Oct 16, 2024 |
| Redburn Partners | Jamie Clark | $276 | $229.26 | -0.9% | Oct 14, 2024 |
| Robert W. Baird | Eric Coldwell | $256 | $244.62 | -8.1% | Sep 20, 2024 |
| Stifel Nicolaus | Jonathan Block | $175.38 | $236.24 | -37.1% | Aug 5, 2024 |
| Truist Financial | Jailendra Singh | $300 | $240.26 | +7.7% | Jul 23, 2024 |
| Evercore ISI | Elizabeth Anderson | $270 | $239.5 | -3.1% | Jul 23, 2024 |
| Barclays | Luke Sergott | $275 | $245.23 | -1.3% | Jul 23, 2024 |
| Deutsche Bank | Justin Bowers | $275 | $212.83 | -1.3% | Jun 18, 2024 |
| Robert W. Baird | Eric Coldwell | $241 | $217.46 | -13.5% | Jun 13, 2024 |
| Goldman Sachs | Matthew Sykes | $270 | $218.9 | -3.1% | Jun 6, 2024 |
| Evercore ISI | Elizabeth Anderson | $275 | $236.28 | -1.3% | Aug 2, 2022 |
| Piper Sandler | Jeff Garro | $255 | $202.53 | -8.5% | May 12, 2022 |
| Wells Fargo | Analyst unavailable | $235 | $228.16 | -15.7% | Apr 25, 2022 |
| Evercore ISI | Elizabeth Anderson CFA | $320 | $268.17 | +14.8% | Nov 19, 2021 |
| Bank of America Securities | Derik De Bruin | $320 | $264.45 | +14.8% | Nov 17, 2021 |
| KeyBanc | Donald Hooker | $290 | $264.45 | +4.1% | Nov 17, 2021 |
| Citigroup | Patrick B Donnelly | $320 | $264.45 | +14.8% | Nov 17, 2021 |
| Wells Fargo | Dan Leonard | $300 | $256.89 | +7.7% | Oct 22, 2021 |
| Argus Research | Jasper Hellweg | $290 | $260.5 | +4.1% | Sep 10, 2021 |
| Credit Suisse | Katie Tryhane | $272 | $249.86 | -2.4% | Aug 4, 2021 |
| Guggenheim | Sandy Draper | $267 | $245.37 | -4.2% | Jul 28, 2021 |
| Cowen & Co. | Daniel Brennan | $275 | $232.3 | -1.3% | Apr 23, 2021 |
| Stephens | Scott Schoenhaus | $250 | $215.56 | -10.3% | Apr 16, 2021 |
Track every rating change on IQV the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationIQVIA Holdings Inc. is a premier global provider of sophisticated analytical insights, advanced technology solutions, and comprehensive clinical research services, catering to the life sciences industry across the Americas, Europe, Africa, and Asia-Pacific. The company's operations are structured into three key divisions: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics Solutions segment provides a suite of cloud-native applications, complete with implementation services, and offers real-world data solutions designed to empower life sciences and healthcare providers in generating and disseminating evidence crucial for informed decision-making and improving patient outcomes. This division also delivers strategic and operational consulting, including advanced analytics support and outsourcing of commercial processes.…
Historical context
All IQV earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AVTR Avantor, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -2.2% | Avantor reports stronger growth and raises full-year guidance |
| ICLR ICON Public Limited Company | FY2026 Q3 · Calendar Q4 2026 | — | +12.5% | ICON: bookings and margins improve as revenue dips |
| CNC Centene Corp. | FY2026 Q3 · Calendar Q4 2026 | +506.1% | +1.0% | Centene raises EPS outlook as Medicaid remains stable |
| HCA HCA Healthcare, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.6% | -3.3% | HCA Q3: Volume growth offsets payer-mix and Medicaid pressure |
Latest beats and misses
Who reports nextBeat on EPS
- TERFY2026 Q3 · October 27, 2026+9.6% EPS-3.7% move
- HLTFY2026 Q3 · October 27, 2026+3.4% EPS-2.1% move
- SPGIFY2026 Q3 · October 27, 2026+3.4% EPS-0.4% move
- PYPLFY2026 Q3 · October 27, 2026+10.7% EPS+2.0% move
- CMSAFY2026 Q3 · October 27, 2026+6.7% EPS0.0% move
- ITWFY2026 Q3 · October 27, 2026+2.4% EPS-0.1% move
Missed on EPS
- WMFY2026 Q3 · October 27, 2026-1.4% EPS-3.2% move
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T07:45:53.220929+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T07:45:53.218158+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-30. For educational purposes only; not investment advice.