Stephens Reiterates Overweight Rating on Veeva Systems (VEEV) Following 4Q
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Stephens analyst Scott Schoenhaus reiterated an Overweight rating and $325.00 price target on Veeva Systems (NYSE: VEEV) following the company's 4Q earnings report. VEEV's calculated billings of $688.0 million came in 7.5% above the Street with revenue of $396.8 mil. also beating the Street estimate by ~4.4%.
In terms of near-term guidance, VEEV expects 1Q billings to be $392 mil. (~2% below the Street); 1Q revenue to be between $408 mil. - $410 mil. (~2% above the Street) and adj EPS between $0.77 and $0.78 (~5% above the Street).
Shares of Veeva Systems closed at $287.30 yesterday.
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