Workday Vs. Veeva Systems: Which Cloud Stock Is A Better Buy?

Last week, VEEV unveiled Veeva Quality Content Reference to drive standardization in quality management and simplify stakeholder alignment. This should allow the company to better serve its customers in the life sciences industry.

Also this month, the company entered a strategic collaboration with Parexel, a U.S. provider of biopharmaceutical services, to advance clinical trials technology and process innovation. The partnership should drive customer success and speed innovations in clinical research.

Recent Financial Results

During its fiscal fourth quarter, ended January 31, 2021, WDAY’s total revenues increased 15.9% year-over-year to $1.13 billion. The company’s revenues from its subscription services segment increased 19.8% year-over-year to $1 billion. Its non-GAAP operating income increased nearly 81% year-over-year to $210.99 million, while its non-GAAP EPS was  $0.73, representing a 46% increase year-over-year.

In the fourth quarter, ended January 31, 2021, VEEV’s total revenues increased 27% year-over-year to $396.8 million. The company’s operating expenses rose 17.4% from its year-ago value to $184.07 million. VEEV’s non-GAAP net income for the fourth quarter was $126.1 million, compared to $85.5 million for the same quarter of 2019.

Past and Expected Financial Performance

WDAY’s revenue has increased at a 26.3% CAGR  over the past three years. In comparison, VEEV’s revenue grew at a 28.5% annualized rate over this period.

The Street expects WDAY’s revenue to rise 15.8% in the current quarter, ending April 30, 15.6% in the current year, and 18.2% next year. A  consensus EPS estimate indicates a 65.9% increase in the current quarter and 23.5% in 2023. In comparison,  analysts expect VEEV’s revenue to increase 28.2% in the current quarter, 20.4% in its fiscal year 2022, and 18.7% in 2023. Also, the company’s EPS is estimated to increase 18.2% in the current quarter and 17.6% next year.

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