LONG VEEVExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
VEE trade ideas
VEEV appears to be breaking out after falling and basing.Earnings are expected on the 11/26. Last Q they beat and guided higher with 27% sales growth.
The market is clearly worried that SaaS stocks are too expensive and running out of growth opportunities.
I always wait for earning to be reported so I miss lots of good buys but occasionally miss a bad pullback.
I do own the stock.
Veeva Systems Beats and raises Third-quarter subscription service revenues summed $226.8 million, up 27.2% year over year. Per management, the solid momentum in bookings was maintained in the quarter.
Professional Service revenues rose almost 16.4% to $54.2 million from the figure registered in the year-ago quarter.
Per management, outperformance by Veeva Commercial Cloud and Veeva Vault drove revenues across all segments.
Company profile
Veeva Systems, Inc. engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance. The firm's customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a regulated, content-centric processes across the enterprise. The company's customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. The company was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007 and is headquartered in Pleasanton, CA.
VEEV & SHOP Sporting similar bullish chartsVEEV & SHOP working to resume up trends. They just need to hold their 50 SMAs. I will wait until VEEV reports next week to see
if this trend reversal is real or not.
ANALYSTS LOVE VEEVA, LONGThe Analysts Upgrades Source Benzinga
Stifel analyst Tom Roderick maintains a Buy rating on Veeva with a price target lifted from $175 to $185.
SunTrust Robinson Humphrey analyst Sandy Draper maintains at Buy, price target lifted from $150 to $180.
Stifel: Blowing Through Milestone
Veeva's "clean" quarter is highlighted by a 27% year-over-year growth in revenue, 28% growth in subscription revenue, 24% growth in professional services revenue, and 29% growth in calculated bookings, Roderick said. The quarter also marks a milestone as the company "blows through" a $1 billion revenue run rate.
Roderick said Veeva's report shows it has multiple initiatives and growth drivers in place to sustain current momentum, including the core Commercial Cloud business Vault. The company also won market share at small- and medium-sized pharmaceutical companies while add-on solutions like Engage doubled in adoption.
"We believe Veeva is well positioned to deliver solid growth at scale," the analyst wrote in a note. "Combined with a best in class margin profile, we see Veeva as one of the most compelling long-term stories in our space."
SunTrust: Bull Stance Validated
Veeva's strong quarter solidifies the case for being bullish on the stock for three reasons, Draper said.
First, the growth seen in Vault and contracts won makes it clear it will be a "market share taker." Second, newer products and greater adoption of the commercial suite contributed to an acceleration in overall Commercial revenue growth. Finally, recent momentum in ex-Life sciences solutions represents a future benefit that isn't factored in to current estimates.
The revised $180 price target is based on 57 times EV/FCF on 2021 estimates. The multiple represents a premium to the two-year and five-year average of 46 times but justified given a track record of beat and raises earnings reports.
VEEV BreakdownVEEV has tested the line of support at $155 three times as well as formed a double top. It has also formed a bearish engulfing over the last day. I was unaware that earnings is release in 6 trading days, so the objective is to see if this trade can play out before then otherwise i will sell before earnings.
VEEV Time To Reenter Short On Bounce To $175VEEV We will look to reenter a short on this name if it can regain $175 or a bit higher - this name burnt us on our last short so this will be made with defined risk only and NOT a trade for retail traders. Looking for a serious collapse in this name. #stocks #trading #fintech
VEEV - H&S formation short setupVEEV - Looking for a possible short if we drop below 158.87. 1st Target 147.67, 2nd Target 136.13 Stop signal 164.23.. Could consider September or December $160 Puts.
$VEEV TO MUCH RISK INTO EARNINGS, LOOKS LIKE A SHORTThe cloud kings are having real trouble this earnings season, regardless of how good the earnings or outlook is, post earnings selling has hindered any progress. We think NYSE:VEEV is vulnerable as earnings approach , having climbed 80% in 5 months the stock is already overextended, with bearish divergence on the indicators.The stock needs a healthy pullback and it will not have long to wait to get it.
AVERAGE ANALYSTS PRICE TARGET $132
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Veeva Systems, Inc. engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance. The firm's customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a regulated, content-centric processes across the enterprise.
Watch 130-132 levelsSince VEEV isn't a pure play healthcare stock it's difficult to say FOR SURE that wave 5 has completed. It should at least retrace here to the .382 level for now.
Expecting a throwback from the major channel of the completed impulse wave. Watch that 130-132 level for a rejection... if it rejects and moves down I think we see an AB=CD pattern to complete wave A of the corrective wave. Should see a higher RSI here to set up for a pretty choppy B wave going back up.
Currently holding long scalps and will add shorts at 130+.
VEEV - Looks like an ascending broadening wedgeHi Everyone!
To me it looks like VEEV is in a long term ascending broadening wedge from the time that it entered the aggressive uptrend that it has been in since February of 2016. When researching an ascending broadening wedge, things eventually go south for the asset that is printing that pattern. I am not sure when this will eventually tank hard, but I have been trying to play this stock off of the bottom trend lines each time as a long and a short. It is hard telling how high the price will go on VEEV before we get a nice big correction beyond the trend line, but to me, it looks like it could eventually happen based upon the ascending broadening wedge pattern.
What do you think?
Maybe one last surge before the plungePoor price action on earnings, bearish divergence on all indicators on all TFs, compare to the october top and maybe one last surge early next week. Short at top of the channel or if S&P fails to break 2815 again.
VEEV - waiting on indicator confluence to shortHello!
I was introduced to this stock by my father, and wow, it is a great one to trade!
I am personally waiting for the MACD to cross bearish on the daily chart to consider opening a short position.
I am also going to let the moving averages signal a dump as well.
We are already starting to kind of bearishly diverge on the RSI on the Daily chart, where it has definitely been happening on the 240 chart.
I am likely going to try and short it to the .618, maybe down to the trend line or further depending on what happens. Just move your stops accordingly. Always use a stop!
Anyway, is anyone else out there seeing the same things and considering a short once certain conditions are met?
Thanks!
VEEV Looking to Short This Name On Any Bounce to $100Title says it all - if this name $VEEV gets near $100 on a bounce ( as it did yesterday ) we are looking to short it with deep itm puts #stocks #trading #fintech
