Veeva Systems Inc Class A

VEEV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$166.00	Bymq	Bgjwzhbnbv

Veeva Earnings: Caps Off the Year on Strong Footing With All Gears Turning in Right Direction

Keonhee Kim

Mar 1, 2024

Wide-moat Veeva Systems reported fourth-quarter earnings that came in slightly ahead of our expectations. Total sales of $630 million were up 11.9% year over year as both the subscription and services businesses outperformed management’s expected numbers. After adjusting our near-term assumptions and baking in the time value of money, we slightly raise up our fair value estimate to $270 per share from $267.

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