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Reasons to Add Veeva Systems (VEEV) to Your Portfolio Now
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Veeva Systems Inc. (VEEV - Free Report) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by a solid fourth-quarter fiscal 2024 performance and strategic deals, is expected to contribute further. Stiff competition and data security threats persist.
Over the past six months, this currently Zacks Rank #1 (Strong Buy) stock has risen 13.7% compared with 41.9% growth of the industry and a 21.6% rise of the S&P 500 Composite.
The renowned provider of cloud-based software applications and data solutions for the life sciences industry has a market capitalization of $37.1 billion. The company projects 24.6% growth for the next five years and expects to maintain its strong performance going forward. It delivered an average earnings surprise of 8.5% in the past four quarters.
Image Source: Zacks Investment Research
Let us delve deeper.
Strong Product Portfolio: We are optimistic about Veeva Systems’ unique solutions, which include Veeva Vault, Veeva CRM (customer relationship management), Veeva Network and Veeva OpenData.
On the fourth-quarter fiscal 2024 earnings, Veeva Systems’ management discussed the progress of adding Marketing Automation and Patient CRM to the Commercial Cloud and the expansion of the Data Cloud to clinical.
Strategic Deals: We are upbeat about Veeva Systems’ inking of a slew of notable deals. In February, the company announced that Boehringer Ingelheim, a global animal health leader, has chosen Veeva Vault Clinical and Veeva Vault RIM applications as the technology foundation for clinical and regulatory management of its health business unit.
Veeva Systems declared in January that SK Biopharmaceuticals Co. Ltd.’s subsidiary, SK Life Science, Inc., is expediting and streamlining its validation process with Veeva Vault Validation Management.
Strong Q4 Results: Veeva Systems’ solid fourth-quarter fiscal 2024 results buoy optimism. Throughout the quarter, the company’s top and the bottom line improved. Both of its segments registered strong results. It kept reaping the rewards of its flagship Vault platform.
Strong win rates in Veeva CRM and new customer acquisitions demonstrated Veeva Systems' ongoing strength in its Commercial Solutions were also evident.
Downsides
Data Security Threats: Veeva Systems provides systems that store and transfer sensitive data, including patient and clinical trial participant personal information, proprietary information belonging to its customers, and information from other sources. Improper entry or additional security lapses or events may harm the business's standing. It's possible that VEEV won't be able to foresee security risks or put in place sufficient countermeasures. This is partly because methods for breaking into accounts or compromising systems are constantly evolving and getting more intricate and sophisticated. They are typically unknown until launched against a target.
Stiff Competition: Veeva Systems competes fiercely in its industry. The company faces competition from alternative cloud-based solutions from providers who provide applications for the health sciences sector in new sales cycles within its biggest product categories. The client-server-based legacy solutions offered by big businesses and other smaller application providers are also challenged by Veeva Systems' Commercial Cloud and Veeva Vault application suites.
Estimate Trend
VEEV is witnessing a positive estimate revision trend for fiscal 2025. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved 0.4% north to $5.54 per share.
The Zacks Consensus Estimate for the company’s first-quarter fiscal 2025 revenue is pegged at $641.3 million, indicating a 21.85% improvement from the year-ago quarter’s reported number.
Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has surged 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 51.5% compared with the industry’s 3.6% rise in the past year
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Reasons to Add Veeva Systems (VEEV) to Your Portfolio Now
Veeva Systems Inc. (VEEV - Free Report) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by a solid fourth-quarter fiscal 2024 performance and strategic deals, is expected to contribute further. Stiff competition and data security threats persist.
Over the past six months, this currently Zacks Rank #1 (Strong Buy) stock has risen 13.7% compared with 41.9% growth of the industry and a 21.6% rise of the S&P 500 Composite.
The renowned provider of cloud-based software applications and data solutions for the life sciences industry has a market capitalization of $37.1 billion. The company projects 24.6% growth for the next five years and expects to maintain its strong performance going forward. It delivered an average earnings surprise of 8.5% in the past four quarters.
Image Source: Zacks Investment Research
Let us delve deeper.
Strong Product Portfolio: We are optimistic about Veeva Systems’ unique solutions, which include Veeva Vault, Veeva CRM (customer relationship management), Veeva Network and Veeva OpenData.
On the fourth-quarter fiscal 2024 earnings, Veeva Systems’ management discussed the progress of adding Marketing Automation and Patient CRM to the Commercial Cloud and the expansion of the Data Cloud to clinical.
Strategic Deals: We are upbeat about Veeva Systems’ inking of a slew of notable deals. In February, the company announced that Boehringer Ingelheim, a global animal health leader, has chosen Veeva Vault Clinical and Veeva Vault RIM applications as the technology foundation for clinical and regulatory management of its health business unit.
Veeva Systems declared in January that SK Biopharmaceuticals Co. Ltd.’s subsidiary, SK Life Science, Inc., is expediting and streamlining its validation process with Veeva Vault Validation Management.
Strong Q4 Results: Veeva Systems’ solid fourth-quarter fiscal 2024 results buoy optimism. Throughout the quarter, the company’s top and the bottom line improved. Both of its segments registered strong results. It kept reaping the rewards of its flagship Vault platform.
Strong win rates in Veeva CRM and new customer acquisitions demonstrated Veeva Systems' ongoing strength in its Commercial Solutions were also evident.
Downsides
Data Security Threats: Veeva Systems provides systems that store and transfer sensitive data, including patient and clinical trial participant personal information, proprietary information belonging to its customers, and information from other sources. Improper entry or additional security lapses or events may harm the business's standing. It's possible that VEEV won't be able to foresee security risks or put in place sufficient countermeasures. This is partly because methods for breaking into accounts or compromising systems are constantly evolving and getting more intricate and sophisticated. They are typically unknown until launched against a target.
Stiff Competition: Veeva Systems competes fiercely in its industry. The company faces competition from alternative cloud-based solutions from providers who provide applications for the health sciences sector in new sales cycles within its biggest product categories. The client-server-based legacy solutions offered by big businesses and other smaller application providers are also challenged by Veeva Systems' Commercial Cloud and Veeva Vault application suites.
Estimate Trend
VEEV is witnessing a positive estimate revision trend for fiscal 2025. In the past 60 days, the Zacks Consensus Estimate for its earnings has moved 0.4% north to $5.54 per share.
The Zacks Consensus Estimate for the company’s first-quarter fiscal 2025 revenue is pegged at $641.3 million, indicating a 21.85% improvement from the year-ago quarter’s reported number.
Veeva Systems Inc. Price
Veeva Systems Inc. price | Veeva Systems Inc. Quote
Other Key Picks
Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has surged 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 51.5% compared with the industry’s 3.6% rise in the past year