Morningstar

Morningstar, Inc.

Equity Bottom-Up

Veeva Systems was the first mover in providing customer relationship management services specifically designed for pharmaceutical companies, and we believe its niche position, top-tier software, and operation-critical services will allow it to enjoy long-term economic profits on par with a wide-moat company. Veeva’s minimal client churn, substantial market share, and growing appeal outside the life sciences space bolster our view of the firm as a market leader.Veeva currently has two main…

Veeva Systems reported results exceeding our expectations, with revenue and non-GAAP EPS ahead $6.2 million and $0.05, respectively, driven by across-the-board strength. Guidance was raised and is ahead of our model, but we don't expect any significant changes to our fair value estimate and we maintain our wide moat rating. For perspective, shares are trading at 55 times trailing 12-month free cash flow
For the fiscal first quarter, revenue grew 25% year over year to $245 million, while…

<p>Veeva Systems was the first mover in providing customer relationship management services specifically designed for pharmaceutical companies, and we believe its niche position, top-tier software, and operation-critical services will allow it to enjoy long-term economic profits on par with a wide-moat firm. Veeva’s minimal client churn, substantial market share, and growing appeal outside the life sciences space bolster our view of the firm as a market leader.Veeva currently has two main…</p>

United States

Veeva Systems Inc. provides cloud-based business services. The Company offers enterprise applications, multichannel platform, customer relationship, and content management solutions. Veeva Systems serves customers in the United States.

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