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Veeva Stock Surges After Crushing Estimates, Outlook

Late Thursday, Veeva Systems (VEEV) reported adjusted income of 91 cents per share on $433.6 million in sales for its first quarter. In response, VEEV stock charged ahead.




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On average, analysts polled by FactSet expected Veeva to earn 78 cents per share on $410.1 million in sales.

In the year-earlier period, Veeva earnings were 66 cents per share on $337.1 million in sales.

For the year, Veeva guided to adjusted profit of $3.49 per share and $1.82 billion to $1.83 billion in sales. Analysts expected adjusted profit of $3.23 per share and $1.76 billion in sales.

In after-hours trading on the stock market today, VEEV stock surged 5.8% near 280.10. Shares of VEEV stock are consolidating with a buy point at 325.64, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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