Veeva Systems' (NYSE: VEEV) stock price jumped 8% on Aug. 31 after the cloud software specialist posted its latest earnings report. For the second quarter of fiscal 2024, which ended on July 31, its revenue grew 10% year over year to $590 million and exceeded analysts' estimates by $8 million. Its adjusted EPS rose 17% to $1.21 and cleared the consensus forecast by $0.08 per share.

Those headline numbers were impressive, but is it too late to hop aboard the bullish bandwagon after Veeva's year-to-date rally of nearly 30%? Let's review its business model, growth rates, and valuation to decide.

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Source Fool.com