Is Veeva Systems Stock a Buy Now?
Veeva Systems' (NYSE: VEEV) stock price soared 15% on June 2 after the cloud-based software company posted its first-quarter earnings report. Its revenue rose 16% year over year to $505.1 million and beat analysts' estimates by $9.2 million. Its adjusted net income grew 9% to $159.8 million, or $0.99 per share, which also topped estimates by seven cents.
Those growth rates look decent, but is Veeva's post-earnings pop sustainable? Let's review its growth rates and valuations to find out.
Veeva provides cloud-based customer relationship management (CRM), data storage, and analytics services to life science companies. At the end of fiscal 2022 (which ended this January), it served over 1,200 customers -- including pharmaceutical giants like Pfizer, Johnson & Johnson, and Moderna.
Source Fool.com
