Is Veeva Systems a Buy?
Health tech company Veeva Systems (NYSE: VEEV) has been among the hottest stocks to buy of late. In three months, its shares have popped more than 30%, while the S&P 500 has risen by just over 1%. It's a near-term win for the stock, which is now around $230 -- but that's still down from $256 at the beginning of the year.
What's been driving the improved results for this healthcare stock, and is Veeva Systems a good company to invest in today?
On June 1, Veeva Systems released its quarterly earnings numbers, which led to some bullishness in its shares. For the first quarter of fiscal 2023 (ended April 30), Veeva's sales of $505.1 million rose by 16% year-over-year. The company makes a good chunk of revenue from recurring subscriptions, and they totaled $402.6 million and grew 18% from the same period last year.
Source Fool.com
