Is Veeva Systems Stock a Buy?
Veeva Systems (NYSE: VEEV), a provider of cloud-based services for life sciences companies, recently posted strong fiscal fourth-quarter numbers. Revenue rose 27% year over year to $396.8 million, beating estimates by $16.6 million. Its non-GAAP net income climbed 47% to $126.1 million, or $0.78 per share, which cleared expectations by a dime. On a GAAP basis, its net income rose 56% to $102.9 million.
Those numbers were solid, but Veeva stock dipped after the company released its earnings report, and shares declined further amid the ongoing sell-off in pricier tech stocks.
As a result, Veeva stock has fallen 6% year to date, though it remains up nearly 75% over the past 12 months. So should investors buy the dip or wait for lower prices?
Source Fool.com
