Veeva Systems soars following IPO

• After pricing its 13M-share IPO at $20 yesterday, Veeva (NYSE:VEEV) opened at $38 and is currently at $36.99, up 85%. That gives the provider of cloud software for life sciences firm a market cap of $4.53B.
• Even if Veeva's revenue growth in the second half of fiscal 2014 (ends Jan. '14) matches the 71% seen in the first half, shares would still be trading at more than 20x FY14 sales.
• S-1, IPO preview