VEEVA SYSTEMS Reports 4.2% Increase in Total Revenue for First Quarter of Fiscal Year 2024

☀️Earnings Overview

VEEVA SYSTEMS ($NYSE:VEEV) reported total revenue of USD 526.3 million for the first quarter of fiscal year 2024, which ended on April 30 2023, representing a 4.2% increase from the prior year. Additionally, the company reported a net income of USD 131.5 million for the period, representing a 31.4% year-over-year increase.

Analysis

GoodWhale has conducted a thorough analysis of VEEVA SYSTEMS‘s fundamentals and has concluded that it is a medium risk investment when considering financial and business aspects. Although the company has a solid financial standing, GoodWhale has identified one risk warning in the non-financial area. To get an accurate assessment of this risk warning, investors should register with GoodWhale to gain access to further information. GoodWhale also provides a range of resources and tools to help investors make informed decisions, such as up-to-date financial charts and detailed analysis of macroeconomic trends. Furthermore, GoodWhale’s algorithms identify potential risks and opportunities in the market so that investors can make better decisions. With its comprehensive suite of services, GoodWhale helps investors ensure that their investments are profitable and secure. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Veeva Systems. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Veeva Systems. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Veeva Systems. More…

Key Ratios Snapshot

Some of the financial key ratios for Veeva Systems are shown below. More…

Peers

The company’s competitors include ORHub Inc, Essence Information Technology Co Ltd, and Xybion Digital Inc.

– ORHub Inc ($OTCPK:ORHB)

CrowdStrike Holdings, Inc. is an American cybersecurity technology firm headquartered in Sunnyvale, California. It provides endpoint security, threat intelligence, and cyber attack response services. The company was founded in 2011 by George Kurtz and Dmitri Alperovitch.

– Essence Information Technology Co Ltd ($SHSE:688555)

Essence Information Technology Co Ltd is a Chinese company that provides information technology services. It has a market cap of 1.01B as of 2022 and a Return on Equity of -2.84%. The company offers services in areas such as cloud computing, big data, and artificial intelligence.

– Xybion Digital Inc ($TSXV:XYBN)

Xybion Digital Inc is a publicly traded company with a market capitalization of $157.07 million as of 2022. The company has a negative return on equity of 12.47% and is involved in the digital media industry. Xybion Digital Inc owns and operates a number of online properties, including social media, video, and email platforms. The company has a strong presence in the United States, Canada, and Europe.

Summary

VEEVA SYSTEMS is an attractive investment opportunity for those interested in the technology sector. The company reported strong quarterly results, with total revenue increasing 4.2% year-over-year to USD 526.3 million and net income increasing 31.4% to USD 131.5 million. This indicates that the company is on a solid growth trajectory and has potential for further success. With its strong fundamentals, innovative technology, and sound leadership, VEEVA SYSTEMS is a compelling investment for those looking to diversify their portfolio.