Yahoo Finance What To Expect From Veeva Systems’s (VEEV) Q2 Earnings
Healthcare software provider Veeva Systems (NASDAQ:VEEV) will be reporting earnings tomorrow after market close. Here’s what investors should know.
Veeva Systems beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $650.3 million, up 23.6% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts’ billings estimates.
Is Veeva Systems a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Veeva Systems’s revenue to grow 13.1% year on year to $667.8 million, improving from the 10.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.53 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Veeva Systems has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.2% on average.
Looking at Veeva Systems’s peers in the vertical software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Doximity delivered year-on-year revenue growth of 16.8%, beating analysts’ expectations by 5.7%, and Olo reported revenues up 27.6%, topping estimates by 4.1%. Doximity traded up 38.6% following the results while Olo was also up 12.7%.
Read our full analysis of Doximity’s results here and Olo’s results here.
Investors in the vertical software segment have had steady hands going into earnings, with share prices flat over the last month. Veeva Systems is up 3.7% during the same time and is heading into earnings with an average analyst price target of $223.5 (compared to the current share price of $198.83).
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