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Veeva Systems (VEEV) to Post Q1 Earnings: What's in Store?
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Veeva Systems Inc. (VEEV - Free Report) is scheduled to release first-quarter fiscal 2022 results on May 27, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 14.7%. Further, its beat estimates in each of the trailing four quarters, the average surprise being 13.9%.
Q1 Estimates
The Zacks Consensus Estimate for the company’s fiscal first-quarter earnings is pegged at 78 cents, suggesting an improvement of 18.2% from the year-ago quarter. The same for revenues stands at $409.4 million, indicating growth of 21.5% from the prior-year reported figure.
Factors to Note
Veeva Systems unique product portfolio, comprising Veeva Vault, Veeva CRM, Veeva Network and Veeva OpenData, might have driven the fiscal first-quarter performance.
The company’s first cloud-based content management system, built specifically for life sciences — Veeva Vault — is likely to have added new Vault customers in the quarter to be reported. Strength across each Vault application area, including continued momentum in more established products and early success for new products, may have favored the to-be-reported quarter’s performance.
Further, Veeva Commercial Cloud and Veeva Vault might have contributed to Professional Service and Other segment’s revenues in the to-be-reported quarter.
Strong performance across Veeva Systems’ segments — Subscription Service and Professional Service and Others — is likely to get reflected in the to-be-reported quarter’s revenues. Notably, the company expects revenues between $408 million and $410 million in first-quarter fiscal 2022.
In December 2020, the company announced that the contract research organization (CRO) GenesisCare Clinical CRO implemented Veeva Vault electronic trial master file (eTMF), Veeva Vault clinical trial management system (CTMS) and Veeva Vault Payments to drive efficiency in trial processes globally.
In February 2021, Veeva Systems inked a deal with Impel NeuroPharma to accelerate pre-launch preparation for Impel’s migraine treatment INP104, which has been accepted for review by the FDA and will be marketed under the trade name TRUDHESA once approved.
In March, Veeva announced a major development for Veeva eConsent, a MyVeeva for Patients application developed on Veeva Clinical Network. The company had its first patient complete an electronic consent for an early phase clinical trial by Crofoot Research Center.
In April, the company inked a deal with Parexel to advance clinical trials via technology and process innovation. This strategic collaboration brings together the best of each company’s expertise throughout thousands of studies globally.
These positive developments are likely to get reflected in the fiscal first-quarter results.
However, escalating expenses on the operational side might have weighed on Veeva Systems’ margins.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Veeva Systems has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Integer Holdings reported first-quarter 2021 adjusted EPS of 97 cents, which surpassed the Zacks Consensus Estimate by 12.8%. First-quarter revenues of $290.5 million outpaced the Zacks Consensus Estimate by 2.6%.
Amedisys reported first-quarter 2020 adjusted EPS of $1.54, which beat the Zacks Consensus Estimate by 7.7%.
HCA Healthcare reported first-quarter 2021 adjusted EPS of $4.14, surpassing the Zacks Consensus Estimate by 23.6%. Net revenues of $14 billion exceeded the Zacks Consensus Estimate by 2.2%.
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It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
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Image: Bigstock
Veeva Systems (VEEV) to Post Q1 Earnings: What's in Store?
Veeva Systems Inc. (VEEV - Free Report) is scheduled to release first-quarter fiscal 2022 results on May 27, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 14.7%. Further, its beat estimates in each of the trailing four quarters, the average surprise being 13.9%.
Q1 Estimates
The Zacks Consensus Estimate for the company’s fiscal first-quarter earnings is pegged at 78 cents, suggesting an improvement of 18.2% from the year-ago quarter. The same for revenues stands at $409.4 million, indicating growth of 21.5% from the prior-year reported figure.
Factors to Note
Veeva Systems unique product portfolio, comprising Veeva Vault, Veeva CRM, Veeva Network and Veeva OpenData, might have driven the fiscal first-quarter performance.
The company’s first cloud-based content management system, built specifically for life sciences — Veeva Vault — is likely to have added new Vault customers in the quarter to be reported.
Strength across each Vault application area, including continued momentum in more established products and early success for new products, may have favored the to-be-reported quarter’s performance.
Veeva Systems Inc. Price and EPS Surprise
Veeva Systems Inc. price-eps-surprise | Veeva Systems Inc. Quote
Further, Veeva Commercial Cloud and Veeva Vault might have contributed to Professional Service and Other segment’s revenues in the to-be-reported quarter.
Strong performance across Veeva Systems’ segments — Subscription Service and Professional Service and Others — is likely to get reflected in the to-be-reported quarter’s revenues. Notably, the company expects revenues between $408 million and $410 million in first-quarter fiscal 2022.
In December 2020, the company announced that the contract research organization (CRO) GenesisCare Clinical CRO implemented Veeva Vault electronic trial master file (eTMF), Veeva Vault clinical trial management system (CTMS) and Veeva Vault Payments to drive efficiency in trial processes globally.
In February 2021, Veeva Systems inked a deal with Impel NeuroPharma to accelerate pre-launch preparation for Impel’s migraine treatment INP104, which has been accepted for review by the FDA and will be marketed under the trade name TRUDHESA once approved.
In March, Veeva announced a major development for Veeva eConsent, a MyVeeva for Patients application developed on Veeva Clinical Network. The company had its first patient complete an electronic consent for an early phase clinical trial by Crofoot Research Center.
In April, the company inked a deal with Parexel to advance clinical trials via technology and process innovation. This strategic collaboration brings together the best of each company’s expertise throughout thousands of studies globally.
These positive developments are likely to get reflected in the fiscal first-quarter results.
However, escalating expenses on the operational side might have weighed on Veeva Systems’ margins.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Veeva Systems has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #2.
Peer Releases
Some other top-ranked stocks in the broader medical space that have already announced their quarterly results are Integer Holdings Corporation (ITGR - Free Report) , Amedisys, Inc. (AMED - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Integer Holdings reported first-quarter 2021 adjusted EPS of 97 cents, which surpassed the Zacks Consensus Estimate by 12.8%. First-quarter revenues of $290.5 million outpaced the Zacks Consensus Estimate by 2.6%.
Amedisys reported first-quarter 2020 adjusted EPS of $1.54, which beat the Zacks Consensus Estimate by 7.7%.
HCA Healthcare reported first-quarter 2021 adjusted EPS of $4.14, surpassing the Zacks Consensus Estimate by 23.6%. Net revenues of $14 billion exceeded the Zacks Consensus Estimate by 2.2%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>