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Here's Why You Should Invest in Veeva Systems (VEEV) Now

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Veeva Systems Inc. (VEEV - Free Report) is expected to gain from an increasing focus on cloud-based services. A string of developments also lends the company a competitive edge.

Price Performance

In a year’s time, shares of this Zacks Rank #1 (Strong Buy) company have skyrocketed 67.4% compared with the industry’s 6.2% increase and against the S&P 500 index’s 5.7% decline.

Let us take a quick look at the factors that make Veeva Systems a solid pick for now.

 

 

What Makes Veeva Systems an Attractive Pick?

Focus on Cloud-Based Services

The life sciences industry is gradually realizing the benefits of cloud-based applications. In a bid to meet the growing demand, Veeva Systems recently introduced Veeva Nitro — a next-generation commercial data warehouse for the life sciences industry.

Moreover, the company released advanced Veeva Commercial Cloud offering, Veeva CRM Engage Webinar and Veeva Vault PromoMats Brand Portal in 2018.

Veeva Systems Rides on Developments

In December, the company introduced Veeva Vault Digital Publishing, a digital asset management (“DAM”) solution for life sciences companies. This platform allows users to update digital content to any channel, using Vault PromoMats or Vault MedComms. (Read More: Veeva Systems Announces New DAM Solution for Life Sciences)

In November, Veeva OpenData was adopted by the dermo-cosmetics company, Pierre Fabre, for accurate customer data to strengthen healthcare professional (HCP) engagement.

Veeva Systems Inc. Price and Consensus

 

Veeva Systems Inc. Price and Consensus | Veeva Systems Inc. Quote

Which Way Are Estimates Headed?

For the fourth quarter of fiscal 2019, the Zacks Consensus Estimate is pegged at 40 cents, reflecting year-over-year growth of 73.9%. The same for revenues stands at $227.5 million, marking a 23.1% improvement year over year.

For fiscal 2019, the Zacks Consensus Estimate for earnings is pinned at $1.58, marking 69.9% rise from a year ago. For revenues, estimates are pegged at $857.3 million, indicating 25.1% rise.

Other Key Picks

Some other top-ranked stocks in the broader medical space are Surmodics (SRDX - Free Report) , Penumbra, Inc. (PEN - Free Report) and OPKO Health, Inc (OPK - Free Report) . While OPKO Health currently sports a Zacks Rank #1, Surmodics and Penumbra carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Surmodics’ long-term earnings growth rate is projected at 190%.

Penumbra has a long-term earnings growth rate of 20%.

OPKO Health’s long-term earnings growth rate is projected at 12%.

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