Veeva Systems surges on earnings beat and raised full-year guidance
+15.20% to $282.13 from $244.91
What moved VEEV
- Total revenue of $928 million for the quarter ended July 31 rose 18% year over year, topping a $904-905 million consensus; non-GAAP EPS of $2.35 beat estimates of roughly $2.22.
- Non-GAAP operating income of $415.9 million cleared estimates, with operating margin expanding to 44.8%.
- The company raised its full-year revenue guidance to $3.68 billion at the midpoint and its adjusted EPS outlook to $9.21.
- Vault CRM has been signed by 13 of the top 20 pharma companies versus six for Salesforce, with new wins at Biogen and Regeneron cited as a key growth driver.
- Several firms, including Oppenheimer, Piper Sandler, Guggenheim, Stifel, Barclays and Truist, raised price targets and reaffirmed bullish ratings on the stock.
Sources: GuruFocus · StockStory