Enterprise cloud software stocks outperform following Veeva IPO

Salesforce (CRM +3.8%), NetSuite (N +2.3%), ServiceNow (NOW +4.4%), Marketo (MKTO +2.9%), and Cornerstone OnDemand (CSOD +2.2%) are all outperforming as Veeva Systems books enormous post-IPO gains that have left it trading at sky-high multiples.

The strong showing posted by Veeva, which provides cloud CRM, collaboration, and content management software for life sciences firms, highlights the strong interest growth investors continue to show in enterprise cloud software names. Until Veeva, there hadn't been a major IPO in the space since Workday's Oct. '12 debut.

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Comments (2)
  • Philip Marlowe
    , contributor
    Comments (1582) | Send Message
    So Veeva gets a good valuation because of the high valuations of other enterprise cloud stocks. Then the other enterprise cloud stocks shoot up because Veeva got a good valuation.


    This is truly a Baron Munchausen style feat.
    16 Oct 2013, 03:01 PM Reply Like
  • Ptrmolinari
    , contributor
    Comments (210) | Send Message
    Ahh Marketo IPO'd this year
    16 Oct 2013, 03:26 PM Reply Like
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