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Fly News Breaks for August 25, 2017
VEEV
Aug 25, 2017 | 08:50 EDT
JMP Securities analyst Rishi Jaluria says that Veeva reported "strong" Q2 results. The analyst says that the stock may have declined because the company's results, although above the consensus outlook, could have come in below investors' expectations. The analyst adds that although the company did not sign any new customers outside of the life sciences vertical for its Vault system, its momentum in this area "remains strong," as its top five consumer packaged goods customers are expanding their deals with the company. The analyst is more upbeat on the company's outlook following the results and recommends buying the shares on weakness.
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