Veeva Systems Skyrockets to A New record High While Sirius Momentum Goes Strong
NEW YORK, NY / ACCESSWIRE / May 30, 2017 / Veeva Systems shares had an impressive day on Friday after posting an equally impressive first quarter earnings report that beat the Zacks Consensus in both revenues and earnings per share. Sirius continued to sail higher on Friday making it seven straight days of gains.
RDI Initiates Coverage on:
Sirius XM Holdings Inc.
https://ub.rdinvesting.com/news/?ticker=SIRI
Veeva Systems Inc.
https://ub.rdinvesting.com/news/?ticker=VEEV
Sirius XM Holdings Inc.'s shares closed up 3.32% on Friday and don't seem to be losing any steam. Shares of the radio broadcasting company have seen gains for seven consecutive trading days and nearly 8% in the past week alone. Sirius hasn't been trading this high since March. While there hasn't been any significant news to explain the move, it may be contributed to traders still being excited over the fact that the company is in negotiations again for Pandora. Since the report came out on May 17th, shares have been moving higher. According to the NY post article, a bid for Pandora could range as high as $12 to $13 a share however Liberty Media CEO Greg Maffei has mentioned in the past that he believes Pandora is only worth $10 a share. Last July the Wall Street Journal had said Maffei suggested a price of $15 per share.
Access RDI's Sirius XM Research Report at:
https://ub.rdinvesting.com/news/?ticker=SIRI
Veeva Systems Inc.'s shares catapulted to a record new high of $67.86 on Friday after the company posted an impressive quarter. The IBD 50 Company rose as much as 10% in trading after reporting first quarter fiscal 2018 results ended April 30th, 2017. Veeva reported earnings of 14 cents per share, two cents ahead of the Zacks Consensus estimate and also 3 cents ahead from the year ago period. Revenues for the quarter came in at $157.9 million which was also ahead of the $152 million that the Zacks Consensus Estimate had looked for. CEO Peter Gassner announced that company added almost 30 new customers to its offering and that a top-50 pharma company is now standardizing on the company's Veeva CRM software. According to Gassner, the company saw a 70% increase year over year in the quarter of customers who use the company's Vault products. "This is exciting as it represents a top-20 pharma going all in with Vault," he said. "This also bodes well for the newer Vault applications we're building." Shares closed up 8.25% on Friday.
Access RDI's Veeva Systems Research Report at:
https://ub.rdinvesting.com/news/?ticker=VEEV
Our Actionable Research on Sirius XM Holdings Inc. (NASDAQ: SIRI) and Veeva Systems Inc. (NYSE: VEEV) can be downloaded free of charge at Research Driven Investing.
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