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In the last-reported quarter, the company’s earnings of 99 cents per share surpassed the Zacks Consensus Estimate by 7.6%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on all occasions, delivering an earnings surprise of 7.4%, on average.
Let’s see how things have shaped up prior to this announcement:
Factors to Note
During its first-quarter fiscal 2023 earnings call in June, Veeva Systems’ management confirmed that it has been witnessing an increasing importance of its data and consulting business and expects this trend to continue. This is likely to have driven up the company’s top line in the fiscal second quarter.
Over the past few months, Veeva Link has been progressing well with sustained customer wins and major enterprise expansions. During the last earnings call, Veeva Systems’ management also confirmed announcing four new products that can roughly double the Veeva Link market opportunity. Further, the company had also added new Veeva Compass early adopter customers in the last-reported quarter and its level of customer engagement, especially in enterprise accounts, is increasing. These trends are likely to have continued in the to-be-reported quarter as well, thereby significantly driving up its revenues.
Veeva Systems’ products like the Veeva Development Cloud, Vault QualityDocs and Vault eTMF have been registering strong customer adoption over the past few months. This trend is likely to have continued in the fiscal second quarter as well, thus contributing robustly to its overall top line.
The Estimate Picture
For second-quarter fiscal 2023, the Zacks Consensus Estimate for total revenues of $530.8 million implies an improvement of 16.5% from the prior-year quarter’s reported figure.
The consensus estimate for earnings is pegged at $1.01 per share, implying an improvement of 7.5% from the prior-year quarter’s reported number.
What Our Model Suggests
Our proven model predicts an earnings beat for Veeva Systems this time around. 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.
Earnings ESP: Veeva Systems has an Earnings ESP of +0.40%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other Stocks Worth a Look
Some better-ranked stocks in the broader medical space that have announced quarterly results are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
McKesson, carrying a Zacks Rank #2, reported first-quarter fiscal 2023 adjusted earnings per share (EPS) of $5.83, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $67.2 billion outpaced the consensus mark by 5.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has an estimated long-term growth rate of 9.9%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average being 13%.
AMN Healthcare, sporting a Zacks Rank #1, reported second-quarter 2022 adjusted EPS of $3.31, which beat the Zacks Consensus Estimate by 11.8%. Revenues of $1.43 billion outpaced the consensus mark by 4.8%.
AMN Healthcare has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed estimates in all the trailing four quarters, the average being 15.7%.
ShockWave Medical reported second-quarter 2022 EPS of 68 cents, which surpassed the Zacks Consensus Estimate by 58.1%. Second-quarter revenues of $120.7 million outpaced the Zacks Consensus Estimate by 12.6%. It currently flaunts a Zacks Rank #1.
ShockWave Medical has an estimated growth rate of 33.1% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average being 180.1%.
Image: Bigstock
Veeva Systems (VEEV) to Report Q2 Earnings: What's in Store?
Veeva Systems Inc. (VEEV - Free Report) is scheduled to report second-quarter fiscal 2023 results on Aug 31, after the closing bell.
In the last-reported quarter, the company’s earnings of 99 cents per share surpassed the Zacks Consensus Estimate by 7.6%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on all occasions, delivering an earnings surprise of 7.4%, on average.
Let’s see how things have shaped up prior to this announcement:
Factors to Note
During its first-quarter fiscal 2023 earnings call in June, Veeva Systems’ management confirmed that it has been witnessing an increasing importance of its data and consulting business and expects this trend to continue. This is likely to have driven up the company’s top line in the fiscal second quarter.
Over the past few months, Veeva Link has been progressing well with sustained customer wins and major enterprise expansions. During the last earnings call, Veeva Systems’ management also confirmed announcing four new products that can roughly double the Veeva Link market opportunity. Further, the company had also added new Veeva Compass early adopter customers in the last-reported quarter and its level of customer engagement, especially in enterprise accounts, is increasing. These trends are likely to have continued in the to-be-reported quarter as well, thereby significantly driving up its revenues.
Veeva Systems Inc. Price and EPS Surprise
Veeva Systems Inc. price-eps-surprise | Veeva Systems Inc. Quote
Veeva Systems’ products like the Veeva Development Cloud, Vault QualityDocs and Vault eTMF have been registering strong customer adoption over the past few months. This trend is likely to have continued in the fiscal second quarter as well, thus contributing robustly to its overall top line.
The Estimate Picture
For second-quarter fiscal 2023, the Zacks Consensus Estimate for total revenues of $530.8 million implies an improvement of 16.5% from the prior-year quarter’s reported figure.
The consensus estimate for earnings is pegged at $1.01 per share, implying an improvement of 7.5% from the prior-year quarter’s reported number.
What Our Model Suggests
Our proven model predicts an earnings beat for Veeva Systems this time around. 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.
Earnings ESP: Veeva Systems has an Earnings ESP of +0.40%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other Stocks Worth a Look
Some better-ranked stocks in the broader medical space that have announced quarterly results are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
McKesson, carrying a Zacks Rank #2, reported first-quarter fiscal 2023 adjusted earnings per share (EPS) of $5.83, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $67.2 billion outpaced the consensus mark by 5.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
McKesson has an estimated long-term growth rate of 9.9%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average being 13%.
AMN Healthcare, sporting a Zacks Rank #1, reported second-quarter 2022 adjusted EPS of $3.31, which beat the Zacks Consensus Estimate by 11.8%. Revenues of $1.43 billion outpaced the consensus mark by 4.8%.
AMN Healthcare has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed estimates in all the trailing four quarters, the average being 15.7%.
ShockWave Medical reported second-quarter 2022 EPS of 68 cents, which surpassed the Zacks Consensus Estimate by 58.1%. Second-quarter revenues of $120.7 million outpaced the Zacks Consensus Estimate by 12.6%. It currently flaunts a Zacks Rank #1.
ShockWave Medical has an estimated growth rate of 33.1% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average being 180.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.