VEEVA SYSTEMS INC-CLASS A (NYSE:VEEV) – A Strong Growth Stock with Technical Breakout Potential

VEEVA SYSTEMS INC-CLASS A (NYSE:VEEV) was identified by our screener as a strong growth stock with a favorable technical setup. The company combines solid fundamentals with a bullish chart pattern, making it an interesting candidate for investors seeking growth opportunities.

Fundamental Strengths

• Growth: VEEV has demonstrated strong revenue and earnings growth, with a 19.99% annual revenue increase over recent years. The company’s earnings per share (EPS) grew by 30.39% in the past year.
• Profitability: With a profit margin of 27.34%, VEEV outperforms 97% of its peers in the Health Care Technology sector. Its return on equity (12.57%) and return on invested capital (10.20%) are also well above industry averages.
• Financial Health: The company has no debt and maintains excellent liquidity, with a current ratio of 4.60. This financial stability supports continued expansion.

Technical Setup

• Trend Strength: Both short-term and long-term trends are positive, with the stock trading near its 52-week high.
• Bull Flag Pattern: The stock is currently forming a bull flag, a continuation pattern that often precedes further upside.
• Support Levels: Key support zones exist around $279-$282, providing a potential stop-loss area for traders. Resistance is seen near $290, a breakout above which could signal further gains.

For a deeper analysis, review the full fundamental report and technical report.

Our Strong Growth Stocks with Good Technical Setup screener lists more stocks meeting these criteria and is updated daily.

Disclaimer

This is not investment advice. The observations are based on data available at the time of writing, and investors should conduct their own research before making decisions.