Veeva Systems climbs on upbeat forecast, Q2 results beat

Veeva Systems

29/08/2024 13:46

** Shares of healthcare tech firm Veeva Systems  VEEV.N 
rise 4.8% to $209 premarket 
    ** Company sees FY revenue between $2.70 bln - $2.71 bln,
above Wall Street estimate of $2.68 bln - LSEG data 
    ** Forecasts FY adj EPS of $6.22 vs market expectations of
$6.14 
    ** Q2 revenue of $676.2 mln beat average analysts' estimate
of $668.4 mln 
    ** VEEV posts quarterly adj EPS of $1.62, above consensus of
$1.53
    ** At least eight brokerages raise their price target on
VEEV following Q2 results 
    ** 19 of 29 brokerages rate the stock "buy" or higher, nine
"hold" and one "sell"; their median PT is $233
    ** Up to Wednesday's close, stock had risen 3.6% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com))