Veev is a cloud computing company for biotechs that is on a tear. after jumping up massively in past year, Veev has consolidated and fallen slightly.
Please see RSI and MACD trends and relate them to previous trends in boxes. Veev looks to be going higher in the coming months. I'm in at $150 and will keep updated
Veeva to get back to it's all time high by the end of the year, per my model. I could see another 10% on top of that in a rotation into the sector. It seems a base has been put in, so my stop is right below it.
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VEEV has now been making lower highs and lower lows, as its repeatedly tested the $130-$140 mark. The support line has been tested now 7 times and looking to breakdown to the next level at $134. I entered in at $140 for a potential 4% short.
Third-quarter subscription service revenues summed $226.8 million, up 27.2% year over year. Per management, the solid momentum in bookings was maintained in the quarter.
Professional Service revenues rose almost 16.4% to $54.2 million from the figure registered in the year-ago quarter.
Per management, outperformance by Veeva Commercial Cloud and Veeva Vault drove...
Earnings are expected on the 11/26. Last Q they beat and guided higher with 27% sales growth.
The market is clearly worried that SaaS stocks are too expensive and running out of growth opportunities.
I always wait for earning to be reported so I miss lots of good buys but occasionally miss a bad pullback.
I do own the stock.
The Analysts Upgrades Source Benzinga
Stifel analyst Tom Roderick maintains a Buy rating on Veeva with a price target lifted from $175 to $185.
SunTrust Robinson Humphrey analyst Sandy Draper maintains at Buy, price target lifted from $150 to $180.
Stifel: Blowing Through Milestone
Veeva's "clean" quarter is highlighted by a 27% year-over-year growth in revenue,...
VEEV has tested the line of support at $155 three times as well as formed a double top. It has also formed a bearish engulfing over the last day. I was unaware that earnings is release in 6 trading days, so the objective is to see if this trade can play out before then otherwise i will sell before earnings.