EXCLUSIVE: Pharma's Cloud Revolution — A $60B Market By 2030 With 1 Stock To Watch
Portfolio Pulse from Surbhi Jain
Gregory DiMarzio from Rockland Trust highlighted the healthcare sector's potential for growth despite its underperformance YTD. He noted that healthcare ETFs like XLV and VHT have seen gains but lag behind the broader market SPY. DiMarzio is bullish on Veeva Systems (VEEV), a cloud-computing company serving the pharmaceutical and life sciences industries, citing its significant growth opportunity. The global market for cloud computing in pharmaceuticals is expected to reach $60 billion by 2030, indicating a strong potential for VEEV.
March 28, 2024 | 1:18 pm
News sentiment analysis
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) has outperformed healthcare sector ETFs like XLV and VHT with a 10.6% gain YTD.
While SPY's performance is noted for context, its broad market exposure means the specific healthcare sector insights have a neutral impact on its short-term price direction.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Veeva Systems (VEEV) is highlighted for its significant growth opportunity in cloud computing for pharmaceuticals, with the market expected to reach $60 billion by 2030.
Given the expected growth of the cloud computing market in pharmaceuticals and Veeva's positioning, VEEV is likely to experience significant investor interest and potential price appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
VHT, another healthcare sector ETF, has seen a 6.2% increase YTD, also underperforming against the SPY.
With the healthcare sector's growth attributes and potential for rebound, VHT could attract more investors, positively affecting its short-term price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
XLV, a healthcare sector-tracking ETF, is up 6.4% YTD but has underperformed compared to the broader market SPY.
Given the healthcare sector's potential for rebound as highlighted by DiMarzio, XLV could see increased investor interest, potentially leading to a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70