Earnings Roundup: Veeva Systems Inc (NYSE: VEEV)

On Friday, Shares of Veeva Systems Inc (NYSE: VEEV) gained 1.44% to $79.73. The stock opened its trade at $78.70 and after floating in a price range of $78.57 to $79.85; the stock grabbed the investor’s attention and traded 563.18K shares as compared to its average daily volume of 1.05M shares. The stock’s institutional ownership stands at 88.40%.

Veeva Systems Inc. (VEEV), a leading provider of industry cloud solutions for the global life sciences industry, recently declared results for its fiscal first quarter ended April 30, 2018.

Fiscal 2019 First Quarter Results:

  • Revenues: Total revenues for the first quarter were $195.50M, up from $159.80M one year ago, a boost of 22% year-over-year. Subscription services revenues for the first quarter were $156.00M, up from $129.10M one year ago, a boost of 21% year-over-year.
  • Operating Income and Non-GAAP Operating Income: First quarter operating income was $44.00M, contrast to $38.90M one year ago, a boost of 13% year-over-year. Non-GAAP operating income for the first quarter was $62.90M, contrast to $52.10M one year ago, a boost of 21% year-over-year.
  • Net Income and Non-GAAP Net Income: First quarter net income was $44.30M, contrast to $37.00M one year ago, a boost of 20% year-over-year. Non-GAAP net income for the first quarter was $51.40M, contrast to $34.30M one year ago, a boost of 50% year-over-year. Net Income per Share and Non-GAAP Net Income per Share: For the first quarter, fully diluted net income per share was $0.29, contrast to $0.24 one year ago, while non-GAAP fully diluted net income per share was $0.33, contrast to $0.23 one year ago.

Financial Outlook:

Veeva is providing guidance for its fiscal second quarter ending July 31, 2018 as follows:

  • Total revenues between $203 and $204.0M.
  • Non-GAAP operating income between $64 and $65.0M. Non-GAAP fully diluted net income per share between $0.33 and $0.34.

Veeva is providing guidance for its fiscal year ending January 31, 2019 as follows:

  • Total revenues between $826 and $830.0M.
  • Non-GAAP operating income between $261 and $265.0M. Non-GAAP fully diluted net income per share between $1.36 and $1.38.

VEEV has a market value of $11.21B while its EPS was booked as $1.04 in the last 12 months. The stock has 140.66M shares outstanding. In the profitability analysis, the company has gross profit margin of 69.20% while net profit margin was 20.80%. Beta value of the company was 1.40; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.10.

Steve Backshall

Steve Backshall

I am Steve Backshall and I give an insight into the most recent news hitting the Technology Sector in Wall Street. I have been an independent financial adviser for over 10 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicizes valuable information for shareholder community. I am an accomplished journalist who has a passion for travel. My desire to see the world has taken me to countries around the world and given me the opportunity to report for some of the top news organizations.

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