Veeva Systems Is Still a Biotech and Pharmaceuticals Industry Best Buy After Q3 Results
If you're a biotech and pharmaceutical stock dummy like myself, picking individual stocks in the specialized space can be incredibly high risk. As Warren Buffett once said, "Risk comes from not knowing what you're doing."
Yet there are ways to get in on the industry besides just buying a biotech or healthcare ETF. One way is Veeva Systems (NYSE: VEEV), which just issued another solid report card for its fiscal 2020 third quarter. As the biotech industry continues to grow and digital transformation among businesses spread, this software company is a great bet without needing to know the ins and outs of drug development.
Veeva's Q3 revenue topped guidance it provided a few months prior, coming in 25% higher than a year ago at $281 million. Outpacing growth in expenses, adjusted net income for the period surged 35% higher to $95.4 million. Paired with the first two quarters, Veeva is shaping up to have another exceptional year.
Source Fool.com
