The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. What are the Zacks Style Scores? Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, an ...

Veeva Systems Inc. (VEEV) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism led by a solid first-quarter fiscal 2025 performance and strategic deals are expected to contribute further. Stiff competition and data security threats persist. Image Source: Zacks Investment Research Over the past year, this Zacks Rank #3 (Hold) stock has lost 9.2% against 20.8% growth of the industry and a 25.1% rise of the S&P 500 Composite. In the first quarter of fiscal 20 ...

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Veeva System (VEEV) recently announced a partnership with Vita Global Sciences that will help the latter to improve its clinical data management processes as well as collaboration with key trial stakeholders. Industry Prospects Per a report by Introspective Market Research, the global clinical data management system market is expected to grow from $2.3 billion in 2022 to $5.42 billion by 2030 at a growth rate of 11.3%. Factors like the rising number of clinical trials and the integration with other healthca ...

Veeva Forward-looking Statements SOURCE Veeva Systems About Veeva Systems The CRO will use Vault EDC to design and deliver complex studies for its sponsor clients. Looking ahead, Vita Global Sciences plans to add Veeva Clinical Database (CDB) to aggregate and clean data from all sources, and Veeva RTSM to randomize patients and optimize trial supply management. This ensures Vita Global Sciences can run the study clients want while gaining visibility and control of trial data. With modern clinical data manag ...

Over the past year, this Zacks Rank #3 (Hold) stock has lost 7.7% against 29.4% growth of the industry and a 15.6% rise of the S&P 500 Composite. Image Source: Zacks Investment Research Strong Q1 Results: Veeva Systems' solid first-quarter fiscal 2025 results buoy optimism. The company saw an uptick in the overall top and bottom lines and robust performances by both segments during the quarter. In Veeva Vault Quality, VEEV added 15 Vault QualityDocs customers, including a large, multinational contract devel ...

The latest adoption of Veeva Vault EDC, part of the Veeva Clinical Platform, is likely to provide a boost to the Veeva Development Cloud business. Veeva Systems' management believes that with Veeva Vault EDC, Tigermed would be able to deliver more efficient data management services, including higher data quality, lower costs and a better user experience for research sites. This, in turn, will likely aid in accelerating the development and launch of new drugs to improve patient health. Per a report by Intros ...

Modern EDC streamlines key processes to accelerate study builds and make mid-study amendments with no downtime PLEASANTON, Calif., June 6, 2024 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced that Hangzhou Tigermed Consulting Co., Ltd. ("Tigermed") has selected Veeva Vault EDC as its technology foundation for modern electronic data capture (EDC). With Vault EDC, Tigermed can simplify complex data management for faster study builds and mid-study amendments with zero downtime. The improvements can ...

Have you assessed how the international operations of Veeva Systems (VEEV) performed in the quarter ended April 2024? For this provider of cloud-based software services for the life sciences industry, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects. In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its ov ...

Financial Performance - Total revenues for the three months ended April 30, 2024, were $650,345,000, representing a 23.5% increase from $526,325,000 in the same period of 2023[18]. - Subscription services revenue increased to $533,955,000, up 28.8% from $414,546,000 year-over-year[18]. - Net income for the quarter was $161,664,000, compared to $131,521,000 in the prior year, reflecting a 22.8% increase[18]. - Operating income rose significantly to $155,172,000, compared to $61,530,000 in the same quarter of 2023, marking a 152.5% increase[18]. - Gross profit for the three months ended April 30, 2024, was $476,461,000, representing a 32% increase from $359,662,000 in 2023[113]. - Operating income increased to $155,172,000, compared to $61,530,000 in the same period last year, marking a significant improvement[113]. - For the three months ended April 30, 2024, total revenues increased to $650.3 million, up 23.5% from $526.3 million in the same period of 2023[84]. - Subscription services revenue reached $534.0 million, representing a 28.8% increase from $414.5 million year-over-year[84]. - R&D Solutions revenue grew significantly to $272.6 million, a 55.7% increase compared to $175.2 million in the prior year[84]. - Basic net income for the three months ended April 30, 2024, was $161.7 million, resulting in a basic net income per share of $1.00, compared to $119.6 million and $0.82 per share in the same period of 2023[69]. - Diluted net income per share for Class A common stock was $0.98 for the three months ended April 30, 2024, compared to $0.81 for Class B common stock in the same period of 2023[69]. Cash Flow and Assets - Cash and cash equivalents increased to $1,197,196,000 from $703,487,000, showing a growth of 70.5%[15]. - The company reported a net cash provided by operating activities of $763,516,000, compared to $505,936,000 in the same period last year, a 50.8% increase[25]. - The company experienced a net change in cash, cash equivalents, and restricted cash of $493,709,000 for the quarter, compared to $207,169,000 in the prior year[25]. - Cash, cash equivalents, and short-term investments totaled $4.8 billion as of April 30, 2024, with $85 million held outside the United States[135]. - Net cash used in investing activities decreased to $272.4 million for the three months ended April 30, 2024, from $297.4 million in the same period of 2023, a reduction of 8.4%[144]. - Net cash provided by financing activities was $3.8 million for the three months ended April 30, 2024, compared to a net cash used of $1.4 million in the same period of 2023[146]. Expenses and Investments - Research and development expenses for the quarter were $162,711,000, up from $146,960,000, reflecting an increase of 10.7%[18]. - The cost of subscription services increased by 16% to $78,148,000, primarily due to higher computing infrastructure costs[113]. - The gross margin percentage for subscription services improved to 85% from 84% in the previous year[113]. - Other income, net, increased by 71% to $51,729,000, driven by higher interest income from increased investment asset balances[123]. - The company expects operating expenses to rise in the fiscal year ending January 31, 2025, mainly due to increased employee compensation-related costs[115]. Equity and Stock Options - The total stockholders' equity at the end of the period was $4,889,381,000, compared to $4,644,824,000, an increase of 5.3%[15]. - As of April 30, 2024, there were 12,751,547 stock options outstanding with a weighted average exercise price of $165.33[61]. - The total intrinsic value of options exercised during the three months ended April 30, 2024, was approximately $12 million[63]. - The total unrecognized compensation cost related to unvested RSUs was $252 million, expected to be recognized over approximately 1.4 years[65]. Customer and Market Dynamics - The company served 1,432 customers as of January 31, 2024, up from 1,388 in 2023[92]. - Approximately 52% of subscription services revenues were derived from Commercial Solutions and 50% of total revenues from R&D Solutions for the fiscal year ended January 31, 2024[90]. - Professional services revenues constituted 18% of total revenues for the three months ended April 30, 2024[94]. - Approximately 41% of total revenues in the fiscal year ended January 31, 2024, came from customers outside North America, highlighting the company's international exposure[188]. Risks and Legal Proceedings - The company is involved in ongoing litigation with IQVIA, with potential monetary damages exceeding $200 million sought in counterclaims[72]. - The company is involved in ongoing legal proceedings, including a significant case against IQVIA regarding non-compete agreements, with a trial date set for June 13, 2025[164]. - The company faces risks from competitive pressures, particularly from IQVIA, which has expanded its CRM partnership with Salesforce, potentially impacting market share[176]. - The company acknowledges that its revenue growth rates may fluctuate and could decline over time due to increasing costs and market conditions[169]. - The company is subject to risks from cybersecurity threats, which could lead to reputational damage and financial liabilities[171]. - The company has experienced difficulty in attracting and retaining highly skilled employees, which may increase operational expenses and impact growth[193]. Future Outlook - The company expects cash flows from operating activities to be substantially less in future quarterly periods of the fiscal year ending January 31, 2025, due to tax payment requirements[142]. - The company may pursue acquisitions to enhance growth opportunities, but this could divert management's attention and disrupt operations[199]. - The company’s ability to serve a significant portion of the estimated total addressable market (TAM) is contingent on enhancing existing solutions and introducing new ones[207].