VEEV - Veeva Systems: A Stable Growth Story (Downgraded To A Hold)
2024-06-06 15:01:39 ET
Summary
- Veeva Systems Inc. is a stable and growing business with no debt and a substantial cash reserve.
- I acknowledge that Veeva had to reduce its full-year revenue guidance due to challenging macroeconomic conditions.
- I see Veeva stock as fairly valued at 29x forward non-GAAP EPS, given its mid-teens revenue growth and strong operating margins.
Investment Thesis
Veeva Systems Inc. ( VEEV ) is a stable, growing business with no debt. What's more, approximately 15% of its market cap is made up of cash. Hence, there's a lot to like, right?...
Veeva Systems: A Stable Growth Story (Downgraded To A Hold)