Why Veeva Systems Shares Are Diving Friday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 31 2024
0mins
Should l Buy VEEV?
Source: Benzinga
- Financial Performance: Veeva Systems Inc. reported strong first-quarter FY25 results with a 24% increase in revenue to $650.3 million, surpassing expectations.
- Operating Income and EPS: Adjusted operating income grew by 66% year-over-year to $260.9 million, and adjusted EPS was $1.50, beating the consensus estimate.
- Cash Position: As of April-end, Veeva Systems had $1.20 billion in cash and equivalents along with short-term investments of $3.6 billion.
- Outlook: The company expects slightly lower revenue for the second quarter compared to estimates but reiterated its adjusted EPS and operating income guidance for FY25.
- Stock Performance: VEEV shares were down by 9.21% at $176.02 following the earnings report, impacting ETFs like First Trust Nasdaq Lux Digital Health Solutions ETF EKG and Sterling Capital Focus Equity ETF LCG.
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Analyst Views on VEEV
Wall Street analysts forecast VEEV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VEEV is 317.10 USD with a low forecast of 222.00 USD and a high forecast of 380.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
16 Buy
6 Hold
1 Sell
Moderate Buy
Current: 177.040
Low
222.00
Averages
317.10
High
380.00
Current: 177.040
Low
222.00
Averages
317.10
High
380.00
About VEEV
Veeva Systems Inc. is a provider of cloud solutions for the global life sciences industry. It offers span cloud software, data, and business consulting and is designed to meet the needs of its customers and the strategic business functions from research and development (R&D) through commercialization. Its four product categories include Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud. Veeva Development Cloud includes application suites for the clinical, regulatory, and safety functions of life sciences companies, all built on its Veeva Vault platform. Veeva Quality Cloud unifies applications, processes, and partners across content management, training, quality management, assurance, and control lab solutions on the Veeva Vault platform. Veeva Commercial Cloud is a product category comprised of software and analytics solutions. Veeva Data Cloud is a data platform comprised of connected reference data, deep data, and transaction data.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- New Client Growth: In the past year, Veeva Link Key People added 38 new clients, including three of the world's leading biopharma companies, indicating widespread recognition and demand in the industry, further solidifying Veeva's market position.
- Data-Driven Decision Making: Bayer AG's VP stated that the integration of Link Key People data has become central to their decision-making process, enhancing precision marketing capabilities and facilitating interactions with healthcare professionals, ultimately aiding in patient care improvement.
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- Standardization of Client Interactions: Veeva Systems announced that 13 out of the top 20 biopharmaceutical companies have standardized on Veeva Link Key People, a move that enhances client interactions through structured data, which is expected to significantly improve customer relationship management and market responsiveness.
- New Client Growth: Over the past year, Veeva Link Key People has added 38 new clients, including 3 of the top global biopharmaceutical companies, which not only strengthens Veeva's market position but also lays a foundation for future growth.
- Data-Driven Decision Making: The integration of Veeva Link Key People has made data central to decision-making for companies like Bayer, enhancing the accuracy and efficiency of data analysis, thereby driving innovation in AI-based healthcare solutions that ultimately improve patient care.
- Enhanced API Access: The newly launched API Link Direct Data provides data teams with quick access to Veeva data, an innovation that will further promote data integration and utilization within the biopharmaceutical industry, driving strategic collaboration and development across the sector.
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- Standardization Boost: In the past year, 13 of the top 20 biopharma companies have adopted Veeva Link Key People as their global standard, with 38 new customers added, showcasing its widespread recognition and application in the industry.
- Data-Driven Decision Making: Veeva Link Key People enhances decision-making for medical and commercial teams by providing trusted insights, while also feeding AI models with rich data sources, facilitating more efficient customer interactions.
- Innovative Features Introduced: New features such as AI-powered summaries, personalized notifications, and new digital data sources further improve the quality of customer interactions and help uncover new engagement opportunities, driving business growth.
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- Customer Growth: Veeva Link Key People added 38 new customers in the last year, including three top biopharma companies adopting it as their global standard, further solidifying Veeva's market position in the biopharma sector.
- Data-Driven Decision Making: Link Key People enhances decision-making for medical and commercial teams by providing trusted insights, while also supplying data for analytics teams to support AI models, ultimately benefiting patient healthcare in the long term.
- Innovative Features: New functionalities of Veeva Link Key People, such as AI-powered summaries and personalized notifications, further improve customer interactions and help uncover new engagement opportunities, enhancing the overall customer experience.
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