Stephens Reiterates Overweight Rating on Veeva Systems (VEEV) Following 3Q Earnings Report
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Stephens analyst James Rutherford reiterated an Overweight rating and $185.00 price target on Veeva Systems (NYSE: VEEV) following the company's 3Q earnings report. For F3Q. Veeva reported a revenue beat ($280.9 mil. vs. consensus of $275 mil.) and an adj. EPS beat (60c vs. consensus of 54c).
F4Q. Guidance was issued at $296 mil. - $299 mil. vs. pre-quarter consensus of $281 mil. and adj. EBIT was issued at $100 mil. - $101 mil. vs. pre-quarter consensus of $102 mil. Revenues were guided $16.5 mil. above consensus, which is more than the $13 mil. - $15 mil. expected from acquisitions.
Shares of Veeva Systems closed at $159.23 yesterday.
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