In the past few sessions Veeva Systems' share sharply fell and is presently coming back to a significant support level.
The firm’s Surperformance rating underline its revenue growth, its profitability and its sound finances. The consensus is strongly buyer (>70%) and has set an average target price displaying a +30% potential. Moreover, financial forecasts are encouraging.
Graphically, the stock is keeping a neutral trend in the medium term. After many weeks of horizontal consolidation within the USD 26/29 trading range. Near the lower limit, the security is currently facing an oversold situation. Thus, this short term support is likely to send back the stock on the upper limit.
Consequently, investors may open a long position at current prices and target a reversal toward the USD 29 resistance. A stop loss order could be set at USD 25.25.
Veeva Systems Inc. is a provider of cloud solutions for the global life sciences industry. The Company offers span cloud software, data, and business consulting and is designed to meet the needs of its customers and their strategic business functions from research and development (R&D) through commercialization. The Companyâs three product categories: Veeva Development Cloud, Veeva Commercial Cloud, and Veeva Data Cloud. Veeva Development Cloud includes application suites for the clinical, regulatory, and safety functions of life sciences companies, all built on its Veeva Vault platform. Veeva Vault Clinical advances clinical trial execution by providing a complete and connected technology ecosystem. Veeva Commercial Cloud is a product category comprised of software and analytics solutions. Its software offerings include Veeva CRM, Veeva Vault PromoMats, Veeva Vault Medical, and Veeva Crossix. Its data offerings include Veeva OpenData, Veeva Link, and Veeva Compass.