Can Veeva Systems (VEEV) Pull A Surprise In Q3 Earnings?
Zacks Investment Research | Nov 16, 2016 09:14PM ET
Veeva Systems Inc. (NYSE:VEEV) is set to report third-quarter fiscal 2017 results on Nov 22. Last quarter, the company reported earnings of 9 cents, which beat the Zacks Consensus Estimate of 8 cents. Notably, the company posted an average positive surprise of 30.27% over the last four quarters.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
Veeva expects total revenue in the range of $134.5–$136.0 million for third-quarter fiscal 2017. Meanwhile, non-GAAP operating income is expected between $36.5 million and $37.5 million. Non-GAAP earnings are projected in the band of 15 cents to 16 cents per share. For the third quarter, management anticipates calculated billings of roughly $100 million which represents about 14% growth on a year-over-year basis.
Extended use of multi-channel Customer Relationship Management (CRM) application by customers continues to be a key growth catalyst for the company. We believe product suites like Veeva Vault will help Veeva win customers. The Veeva Vault QMS spreads the product’s presence into 10 new markets. The addition of QMS doubles the company’s growth opportunities in the quality management market.
Additionally, Veeva’s regulatory application suite – Veeva Vault Registrations and Veeva Vault Submissions Archive – continues to gain solid traction, which is a key catalyst. It will be interesting to see if these positives translate into an earnings beat this time around.
VEEVA SYSTEMS-A Price and EPS Surprise
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