Life sciences cloud software provider Veeva Systems (NYSE: VEEV) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
Veeva Systems beat analysts’ revenue expectations last quarter, reporting revenues of $836 million, up 16% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ billings estimates and full-year EPS guidance exceeding analysts’ expectations.
Is Veeva Systems a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Veeva Systems’s revenue to grow 13% year on year, slowing from the 16.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Veeva Systems has a history of exceeding Wall Street’s expectations.
Looking at Veeva Systems’s peers in the vertical software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Doximity delivered year-on-year revenue growth of 5.1%, meeting analysts’ expectations, and Q2 Holdings reported revenues up 14.1%, topping estimates by 0.9%. Doximity traded down 23% following the results while Q2 Holdings was also down 3.4%.
Read our full analysis of Doximity’s results here and Q2 Holdings’s results here.
There has been positive sentiment among investors in the vertical software segment, with share prices up 16.4% on average over the last month. Veeva Systems is up 10.8% during the same time and is heading into earnings with an average analyst price target of $262.68 (compared to the current share price of $188.60).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
