- Shares in pharmaceutical focused cloud-computing company
Veeva Systems (NYSE:VEEV) jumped on Thursday to a near 52-week high, after the company beat profit and revenue estimates for the second quarter.
Shares were up +8.02% to $208.03, close to a 52-week high of $211.95, previously hit on July 19, 2023.
FQ2 Non-GAAP EPS of $1.21 surpassed estimates by $0.08, and revenue of $590.2M (+10.5% Y/Y) beat by $8.06M.
VEEV also provided updated guidance for its fiscal year ending January 31, 2024, forecasting total revenues between $2,365 and $2,370 million, non-GAAP operating income of about $820 million, and non-GAAP fully diluted net income per share of approximately $4.68.
At least eight brokerages including BoFA, Stifel, UBS raised price targets on VEEV, with Raymond James hiking it to $240 from $210.
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