Is Veeva Systems Stock a Buy?
With fear of COVID-19 running rampant and stocks whipsawing from big losses one day to big gains the next, growth investors (at least, those who manage to resist the urge to hide in a cave) are probably wondering whether any stocks are impervious to the volatility. Perhaps not entirely -- but at least there are companies whose businesses are steady, even if their share prices aren't right now.
One well-managed company that just keeps growing with few surprises is cloud-based software-as-a-service vendor Veeva Systems (NYSE: VEEV). With revenue that comes mostly from subscriptions and a growth strategy that's expanding its user base as well as spending per customer, the company delivers the kind of performance the market values highly.
Veeva's founder and chief executive officer, Peter Gassner, was an executive vice president at salesforce.com (NYSE: CRM) who recognized the potential of designing cloud-based software for the life sciences industry. Where companies in that industry had been using a hodgepodge of software solutions to manage various facets of their businesses, Veeva stepped in to offer an ever-growing suite of software for customer relationship management (CRM) and other functions to support clinical, quality, and regulatory processes.
Source Fool.com
