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Veeva Systems Inc Class A VEEV

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Life Sciences Rethinking of Digital Plays Into Veeva’s Innovative Long Game; Raising FVE to $275

Soo Romanoff Equity Analyst

Analyst Note

| Soo Romanoff |

Wide-moat Veeva reported strong second-quarter results, with broad-based strength and call-outs in its maturing commercial vault and early stage clinical suite offerings. These were complemented by traction across the rest of the business including budding areas outside of life sciences. Unlike most healthcare companies that have paused on long-term operational investments while wading through the pandemic spikes, Veeva has not taken its eyes off of its long game and believes it is still on track to achieve $3 billion in annual revenue by 2025. In the quarter, Veeva added 357 net new employees and has plans for aggressive hiring in the back half. On the development front, management plans to launch two innovative solutions through its partnership with its early adoptors, including MyVeeva, a clinical trial application, and U.S. longitudinal patient data. Both offerings are anticipated to launch at the end of the year. 

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Company Profile

Business Description

Veeva is a leading supplier of vertical software solutions for the life sciences industry. The company’s best-of-breed offering addresses operating and regulatory requirements for customers ranging from small, emerging biotechnology companies to departments of global pharmaceutical manufacturers. The company leverages its domain expertise and cloud-based platform to improve the efficiency and compliance of the underserved life sciences industry, displacing large, highly customized and dated enterprise resource planning, or ERP, systems that have limited flexibility. As the vertical leader, Veeva innovates, increases wallet share at existing customers, and expands into other industries with similar regulations, protocols, and procedures, such as consumer goods, chemicals, and cosmetics.

4280 Hacienda Drive
Pleasanton, CA, 94588
T +1 925 452-6500
Sector Healthcare
Industry Health Information Services
Most Recent Earnings Jul 31, 2020
Fiscal Year End Jan 31, 2021
Stock Type Aggressive Growth
Employees 3,501