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Companies that are able to impressively beat quarterly earnings expectations attract investors. This tends to be a great sign that business is doing well and that the company is taking advantage of the operating environment.

In this regard, here are three stocks investors might want to pay attention to following their quarterly results on Wednesday.
 

Pure Storage (PSTG - Free Report)

The growth trajectory of Pure Storage remains intact and is attractive to investors seeking an expansive company to invest in.

Pure Storage is the pioneer of the Evergreen Storage business model for hardware and software innovation, support, and maintenance which resolves the refresh cycle of storage systems.

Reassuringly, Pure Storage surpassed Q2 earnings expectations by 21% with EPS at $0.34 per share versus estimates of $0.28 a share. Earnings were also up 6% from the prior-year quarter. Correlating with its expansion, Pure Storage stock has climbed +45% in 2023 to outperform the broader indexes.

The anticipation of steady annual EPS growth is more solidified and should keep the rally going with Pure Storage's stock sporting a Zacks Rank #2 (Buy).

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Veeva Systems (VEEV - Free Report)  

Another tech stock that mirrors the expansive growth investors look for is Veeva Systems which also sports a Zacks Rank #2 (Buy).

While Salesforce’s (CRM - Free Report) Q2 earnings beat many have received more headlines yesterday, Veeva Systems is also worthy of investors' consideration as a large-cap tech holding in the portfolio. Veeva Systems stock noticeably popped today, ending the trading session up +16% after beating earnings expectations by 8% on Wednesday.

Second-quarter earnings of $1.21 per share also soared 17% year over year. Veeva Systems stock is now up a very respectable +29% YTD and annual estimates of 7% EPS growth in its current fiscal year and 18% growth next year is reason to believe VEEV shares could keep rising.

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Vera Bradley (VRA - Free Report)

Investors looking for a smaller-cap company that may be poised to take more market share could have a viable option in Vera Bradley’s stock.

With shares trading around $7, quarterly earnings indicated Vera Bradley’s stock still appears to be cheap despite soaring +58% this year. To that point, Q2 EPS of $0.33 per share blasted quarterly estimates of $0.12 a share by 175% and leaped 312% from a year ago.

The retailer of handbags and other accessories attributed the stellar results to significant gross margin expansion and successful expense reduction efforts. Vera Bradley’s stock currently lands a Zacks Rank #3 (Hold) but a buy rating could be on the way with annual earnings estimates already calling for double-digit percentage growth and likely to trend higher after such an impressive earnings beat.

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Bottom Line

Following stellar Q2 results, investors will certainly want to watch Pure Storage, Veeva Systems, and Vera Bradley’s stock. Impressive Q2 earnings beats were reassuring that their strong stock performances could continue this year and that they should be sound investments going forward.

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