Why Veeva Systems Shares Are Diving Friday
Portfolio Pulse from Lekha Gupta
Veeva Systems Inc. (NYSE:VEEV) shares are down 9.21% after reporting Q1 FY25 results. Despite beating revenue and EPS estimates, the company lowered its full-year revenue outlook, causing investor concern.
May 31, 2024 | 2:16 pm
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NEGATIVE IMPACT
First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) may see minor impact due to its exposure to Veeva Systems, which reported mixed Q1 FY25 results.
EKG has exposure to Veeva Systems, which reported mixed Q1 results. The lowered revenue outlook for Veeva could negatively impact EKG slightly.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Sterling Capital Focus Equity ETF (LCG) may experience minor impact due to its exposure to Veeva Systems, which reported mixed Q1 FY25 results.
LCG has exposure to Veeva Systems, which reported mixed Q1 results. The lowered revenue outlook for Veeva could negatively impact LCG slightly.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Veeva Systems reported strong Q1 FY25 results, beating revenue and EPS estimates. However, the company lowered its full-year revenue outlook, leading to a 9.21% drop in share price.
The strong Q1 results were overshadowed by the lowered full-year revenue outlook, causing investor concern and a significant drop in share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100