Veeva Systems Inc Class A
VEEV: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$344.00 | Xlt | Qfccybpthx |
Veeva Earnings: CRM Gains Users Against Difficult Backdrop and R&D Continues Robust Performance
Wide-moat Veeva reported better-than-expected second-quarter results. Total sales were up 10.5% year over year as strong performance from R&D solutions continues to lift the company’s top line. Management raised the lower end of its total sales guidance by $5 million due to a more favorable full-year expectation of commercial business but that was already baked into our assumptions. We maintain our fair value estimate of $275 per share.