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Veeva Systems Inc. (VEEV) Fell To A 2-Month Low After Q3 Earnings Beat

Veeva Systems Inc. (VEEV) reported third quarter non-GAAP EPS of $0.25 after the bell Tuesday, up from $0.22 last year. The consensus estimate was for EPS of $0.22. The company expects to report fourth quarter non-GAAP EPS of $0.21 to $0.22 and full year EPS of $0.91. Street expectations are for EPS of $0.20 and $0.87.

Veeva Systems gapped open lower Wednesday and fell during the first half hour of trade, before settling into a range. Shares finished with a loss of 3.77 at $54.00 on above average volume. The stock has been losing ground for over a week and fell to over a 2-month low.

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