Cloud Stocks: Veeva Pushing Forth To $3 Billion By 2025

Recently, Veeva also announced a partnership with Parexel that will accelerate clinical trials through technology and process innovation. The partnership will improve study efficiency and get new therapies to patients faster. Parexel will standardize Veeva’s suite of clinical operations and applications to streamline operations. It will also make Veeva Vault CDMS a standard offering to all of Parexel’s customers. Both companies will be able to collaborate to improve both Veeva’s cloud technology and Parexel’s processes for the delivery of clinical trials.

Veeva is currently on track to more than double its headcount and revenue to meet its $3 billion target for 2025. It had another strong quarter in core CRM where it added 18 new customers, saw major expansions within existing customers and continued to gain market share. Within Data, it made good progress with Veeva OpenData, which now has over 230 customers, of which 16 were added in the last quarter. It also saw significant growth for its Vault offering, which delivered a 35% growth over the year. In fact, during the quarter, one of the top five CPG customers signed up for Vault Claims, showing Veeva’s ability to spread outside the core pharma vertical.

Veeva’s stock is currently trading at $290.38 with a market capitalization of $44.4 billion. It had peaked to a record high of $325.54 in February.It hit a 52-week low of $199.00 in June last year.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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