After-Hours Action: Why Veeva Systems Stock Is Down 10%

Veeva Systems Inc VEEV shares are trading lower in Wednesday's after-hours session after the company reported financial results and issued topline guidance below analyst estimates. 

Veeva Systems reported fiscal second-quarter revenue of $534.2 million, which beat average analyst estimates of $530.61 million, according to Benzinga Pro. Veeva's topline results jumped 17% year-over-year. 

The company reported second-quarter earnings of $1.03 per share, which was up from 94 cents per share year-over-year. 

"We are very confident in our competitive position and we are performing well financially as we track ahead of our 2025 targets," said Brent Bowman, CFO of Veeva Systems.

Veeva Systems expects third-quarter revenue to be between $545 million and $547 million versus the estimate of $558.28 million. The company expects third-quarter earnings to be between $1.07 and $1.08 per share.

Veeva Systems sees full-year revenue between $2.14 billion and $2.145 billion versus the estimate of $2.17 billion. The company expects full-year earnings of approximately $4.17 per share.

See Also: Why Comera Life Sciences Shares Are Shooting Up Almost 50% During Wednesday's After-Hours Session

VEEV Price Action: Veeva Systems has a 52-week high of $257.68 and a 52-week low of $152.04.

The stock was down 11.7% in after hours at $176 at press time. 

Photo: Lorenzo Cafaro from Pixabay.