Healthcare software provider Veeva Systems (NASDAQ:VEEV) will be reporting results tomorrow afternoon. Here's what investors should know.
Last quarter Veeva Systems reported revenues of $505.1 million, up 16.4% year on year, beating analyst revenue expectations by 1.85%. It was a mixed quarter for the company, with a decent beat of analyst estimates but a slow revenue growth.
Is Veeva Systems buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Veeva Systems's revenue to grow 16.4% year on year to $530.7 million, slowing down from the 28.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.01 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.07%.
Looking at Veeva Systems's peers in the vertical software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Doximity delivered top-line growth of 24.7% year on year, beating analyst estimates by 1.1% and Autodesk reported revenues up 16.7% year on year, exceeding estimates by 0.99%. Doximity traded down 17.5% on the results, and Autodesk was up 6.42%. Read our full analysis of Doximity's results here and Autodesk's results here.
Investors in the software segment have had steady hands going into the earnings, with the stocks up on average 1.08% over the last month. Veeva Systems is down 8.13% during the same time, and is heading into the earnings with analyst price target of $234.3, compared to share price of $206.04.
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The author has no position in any of the stocks mentioned.