Is Veeva Systems a Multimillionaire-Maker Stock?
Since its 2013 IPO, Veeva Systems' (NYSE: VEEV) returns have been strong -- the company has posted a compound annual growth rate (CAGR) of 13.6% through this period. However, the stock now faces headwinds, including significant competition in its niche of the cloud market. To turn average investors into multimillionaires, Veeva Systems would need to perform well over a few decades, as it has since 2013. Does the company have what it takes?
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Veeva Systems targets the life sciences industry and offers a suite of cloud solutions tailored to its needs. The company chose its niche well: Demand for products like innovative drugs and medical devices will only increase in the long run, along with higher consumer spending and an aging worldwide population. In other words, Veeva operates in an expanding market, which could help it succeed over the long run as it taps into new opportunities. The company's leadership in this corner of the cloud industry is also noteworthy. Veeva Systems' customers include 15 of the top 20 biopharma companies.
Source Fool.com
