Veeva Reports Strong Results Again; Stock Looks Very Cheap With Continued Market Selloff

Veeva shares continue to look very attractive to us, as the market has continued to sour on technology stocks, beating down company shares over the past several months. Once again, the company's short-term performance was strong, and our long-term outlook remains very positive, as we see a substantial runway for growth over the next several years in the research and development software space. With no material change to our expectations, we maintain our $275 per share fair value estimate and wide moat rating.