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IPO Report: Veeva Systems (VEEV)

By  +Follow October 14, 2013 6:37PM
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Veeva Systems (VEEV)is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

Five IPOs are scheduled for this week. The full IPO calendar can be found at IPOpremium.

VEEV is based in Pleasanton, CA,  and scheduled a $223 million IPO with a market capitalization of $2 billion at a price range mid-point of $17, for Wednesday, October 16, 2013.

The S-1 was filed October 11, 2013.  Manager, Joint Managers:  Morgan Stanley; Deutsche Bank Securities.  Co-Managers:  Pacific Crest Securities; Stifel; BMO Capital; Canaccord Genuity

Summary

Veeva is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

VEEV is a profitable cloud company with 67% of revenue from subscriptions,  with a 70% increase in top line revenue increase for the six months ended July 31, ’13 vs July 31, ’12, to $92 million from $54 million.

Valuation

October 11, 2013 VEEV raised the price range mid-point to $17 from $13.

Valuation Ratios

IPO Mrkt

Price /

Price /

Price /

Price /

% offered

annualizing July 6 mos

Cap (mm)

Sls

Erngs

BkVlue

TanBV

in IPO

Veeva Systems (VEEV) @ $17

$2,079

11.3

94.5

10.5

11.2

11%

 

 

 

 

 

 

 

Veeva Systems (VEEV) @ $13

$1,590

8.6

72.3

9.8

10.7

11%

Glossary

Conclusion

Buy VEEV on the IPO based on subscription-based profitability in the cloud sector and top line revenue growth of 70% for the six months ended July 30 ’13 vs July 30 ’12.

Business

Veeva is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

VEEV’s solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

VEEV’s customer relationship management solutions enable customers to increase the productivity and compliance of their sales and marketing functions.

Products

VEEV’s regulated content management and collaboration solutions enable customers to more efficiently manage a range of highly regulated, content-centric processes across the enterprise.

The customer master solution, including VEEV’s proprietary database of healthcare provider and healthcare organization data, enables customers to more effectively create and maintain accurate customer data.

Competition

VEEV competes offerings from large global enterprise software vendors, such as Oracle Corporation, and also compete with life sciences-specific customer relationship management providers, such as Cegedim SA.  A number of vendors of cloud-based and on-premise customer relationship management applications that address only a portion of VEEV’s customer relationship management solutions.

 VEEV’s regulated content management and collaboration solutions compete with offerings from large global content management platform vendors such as EMC Corporation, Microsoft Corporation and OpenText Corporation.

VEEV alsos competes with professional services companies that provide solutions on these platforms, such as Computer Sciences Corporation, and with other life sciences specific providers.

In the future, providers of horizontal cloud-based storage products may seek to compete with VEEV’s  regulated content management and collaboration solutions.

VEEV also expects continued consolidation among cloud-based technology companies that could lead to significantly increased competition.

5% stockholders pre-IPO

Emergence Capital Partners II, L.P., 31%
Craig Ramsey, 5.8%
Maja Ramsey, 5.8%

Use of proceeds

VEEV expects to net $151 million from its IPO from selling 9.7 million shares.  Shareholders intend to sell 3.3 million shares.

Proceeds are allocated for working capital and general corporate purposes.

 

 

Results for veev
Alexander Morris
16 Apr 14 11:44:33
$VEEV: At 1DyHIGH=22.32 (4 Times), ch:+0.8%, FltBO-, tf:3f, MedFlt[26.9M], HiPctSht[32%:3d], goPop+[+0.6%], AvgDyV/R=3.19M/1.69
Alexander Morris
16 Apr 14 09:29:47
$VEEV: Exc 1DyHIGH=22.32 (3 Times), ch:+0.8%, FltBO-, tf:3f, MedFlt[26.9M], HiPctSht[32%:3d], goPop+[+0.6%], AvgDyV/R=3.19M/1.69
Sharice Keegan
16 Apr 14 08:46:57
$VEEV The enterprise still needs to swap out lots o http://t.co/HUiV30T7bD
Fausto Tilley
16 Apr 14 08:42:48
$VEEV The enterprise still needs to swap out lo http://t.co/PV19lajiTr
Alexander Morris
16 Apr 14 08:11:58
$VEEV: Exc 1DyHIGH=22.32 (2 Times), ch:+0.9%, phNearOp:BrkPHi[-0.5%], FltBO-, tf:3f, MedFlt[26.9M], HiPctSht[32%:3d], goPop+[+0.6%]
Inga Chisholmz
16 Apr 14 07:41:32
$VEEV The enterprise still needs to swap out lots o http://t.co/pYHNNk9NJh
Bettie Pagan
15 Apr 14 13:09:49
$VEEV The enterprise still needs to swap out lots o http://t.co/vhAAgR4WRJ
US_proptrader
15 Apr 14 11:49:54
$FEYE $HIMX $HZNP $ICPT $IDRA $INSY $IRWD $TWTR $VEEV autocharts @ http://t.co/kn4mViMgNq
Andie Andrewson
15 Apr 14 07:00:15
$VEEV Abnormal Volume Stocks To Watch On Tuesday http://t.co/cRc6i0A2gt
smart-ticker.com
15 Apr 14 06:21:39
Pre market top Stocks trade ideas: $AHL $ENH $HMSY $GDP $EW $NQ $TITN $WBMD $VJET $VEEV more http://t.co/ciNhKqMZZI
Fox Galvan
15 Apr 14 03:46:07
$VEEV [video] The IPO plague http://t.co/BBxlX5vVP8
Точка Входа.Трейдинг
15 Apr 14 02:30:11
Идеи Long / / $AGN $MCD $VEEV / / #трейдинг #финансы #forex #nyse #nasdaq #точкавхода
Haiden Dallas
15 Apr 14 02:22:43
$VEEV [video] The IPO plague http://t.co/l6ZlcF2ewM
Ken Perrone
14 Apr 14 12:21:40
@DougKass Doug: Did you ever take a look at our $VEEV short thesis & research reports I sent you when VEEV was $42+/sh? We're still short.
Andie Andrewson
14 Apr 14 10:40:04
$VEEV Traders Alert - Sunedison Inc (NYSE:SUNE), Direxion Daily Small Cap Bear 3X ... http://t.co/QRMdBK0TVc
ChartMill
14 Apr 14 09:28:02
http://t.co/7Rghw4zdGb large players are buying #stocks $HL $AU $VEEV
MoMo
14 Apr 14 08:39:14
$veev bullish engulfing day bar on 52wk lows, high volume, love long term, goes higher. http://t.co/BiyBLCnFTC
Andie Andrewson
14 Apr 14 06:46:36
$VEEV Stocks Touching New Low: Google (NASDAQ:GOOG), Veeva Systems (NYSE ... http://t.co/QtzTiB8XQ9
Kevin_Dixon
14 Apr 14 06:33:05
FADE the GAPS: $C $EW $GDP $WBMD $ARWR & FILL the GAPS: $ACOR $ALU $VEEV
A Gap Trader
14 Apr 14 06:21:50
GAP DOWN - $MDT, $XLNX, $VEEV, $ESRX - http://t.co/x0XYlJLELE #daytrading #fadethegap #gaptrading #gapdown #tradingroom #stockmarket
Tom Wrigley
14 Apr 14 06:12:16
Pre-Mkt Movers $ACOR $XLNX $BOSC $WBMD $CHDX $AKBA $VEEV $MDT $NBG $GDP $EW $AHL $ARWR $ICPT $KNDI $RTRX $FB $SPY http://t.co/gEXpnYqKjc
The Fly
14 Apr 14 06:01:22
$VEEV Veeva falls 4.1%: Full Story http://t.co/kiP8pmRJOo
John Simpson
14 Apr 14 05:56:48
News on $VEEV?
Seeking Alpha
14 Apr 14 01:04:06
Veeva Systems Is Extremely Oversold http://t.co/q0jEaA74jI $VEEV
ChartsDontLie
13 Apr 14 15:38:14
Some highly shorted stocks for week 4/14 $HLF $GDP $VEEV $JOY $SPWR and many more: http://t.co/aEKQNaGS8E
Turner James
12 Apr 14 13:52:51
@jimcramer Any insight on $VEEV? A bunch of clowns are bashing. I researched them after ur mention & love what they've done for $LLY
Turner James
12 Apr 14 13:27:44
@CDMCapital Thanks for ur insight. How did u get to ur PT on $VEEV? I would be interested in ur calculation and the basis of ur prediction!
CDM Capital
12 Apr 14 13:20:44
@perrone_ken @stjamesjr @WallStNYC @jimcramer We thk $VEEV will act similar to $GOGO after lock-up from $35 to $18. PT on VEEV = $7.50 $QQQ
Turner James
12 Apr 14 12:37:07
@perrone_ken Yes I have been because of idiots like u! Do more research. Find out how $VEEV is helping $LLY, etc. You've read 1 report!
Ken Perrone
12 Apr 14 11:45:20
@stjamesjr @WallStNYC @CDMCapital @jimcramer $VEEV The company has played retail & Cramer Sheeple for fools. We understand VEEV intimately.
Ken Perrone
12 Apr 14 11:44:07
@stjamesjr @WallStNYC @CDMCapital @jimcramer Listen dipshit, you've been touting $VEEV since it was $40/sh+. You're a fool.
3DPrinting24_7
12 Apr 14 04:34:41
The Harder They Fall: High-Popping IPOs Hammered In Aftermarket Trading http://t.co/d4R7aCfWtu $CSLT, $VEEV, $VRNS, $COUP, $AKBA, $VJET...
CDM Capital
11 Apr 14 14:36:00
@perrone_ken @WallStNYC @jimcramer Heavily promoted on pure hype on TAM. Class actions coming soon, should sue sell-side analysts too! $VEEV
Ken Perrone
11 Apr 14 14:15:45
@WallStNYC @CDMCapital @jimcramer I'm astounded that no ambulance chasers have announced investigations of $VEEV mgt & underwriters 4 fraud.
CDM Capital
11 Apr 14 12:13:27
New 52-week low $VEEV... $QQQ $IWM $IBB #IPO #bubble #froth #tech
DC
11 Apr 14 12:06:42
@CDMCapital $VEEV These crooks are getting away with the little guys money! Eventually retail investors will realize it. $QQQ #IPO #bubble
DC
11 Apr 14 12:05:44
RT @CDMCapital: $VEEV insiders just sold roughly 11.1 million shares on 03/26. Another lock-up Monday of 9.85 million shares, wonder if the…
CDM Capital
11 Apr 14 11:59:21
RT @SAlphaTech: Veeva Systems: A Top 20 Competitive Displacement, Customer Dissatisfaction, DB Markets Rese... http://t.co/Q6nZZYCz8T $VEEV
CDM Capital
11 Apr 14 11:47:27
$VEEV insiders just sold roughly 11.1 million shares on 03/26. Another lock-up Monday of 9.85 million shares, wonder if they will sell? ;)
Andie Andrewson
11 Apr 14 09:00:08
$VEEV The Harder They Fall: High-Popping IPOs Hammered In Aftermarket Trading http://t.co/TvmufPGKCZ
Seeking Alpha
11 Apr 14 08:45:30
The Harder They Fall: High-Popping IPOs Hammered In Aftermarket Trading http://t.co/I3wMpEZ5wK $DRNA $CSLT $VEEV $VRNS $COUP $AKBA $VJET
Tech Alerts
11 Apr 14 06:30:04
Veeva Systems: A Top 20 Competitive Displacement, Customer Dissatisfaction, DB Markets Rese... http://t.co/Q6nZZYCz8T $VEEV
OptionCast
11 Apr 14 06:12:47
Short Squeeze Alerts $ESI $VEEV $BTH $MYGN $WLT $EBIX $VRA $TPH $NQ http://t.co/xudbNL3fGb
Leatha Morley
11 Apr 14 02:55:36
$VEEV [video] Many got Tesla wrong: Pro http://t.co/o06PsAp933
Ken Perrone
11 Apr 14 01:08:30
RT @SeekingAlpha: Veeva Systems: A Top 20 Competitive Displacement, Customer Dissatisfaction, DB Markets Rese... http://t.co/G18YOpg5hg $VE…
Ken Perrone
10 Apr 14 19:51:06
@bradloncar stock I found since the dotcom/tech bubble. @$23/sh, merely outrageously over-valued. I peg FV @ $8/sh. Check my tweets $VEEV
Ken Perrone
10 Apr 14 19:48:23
@bradloncar Brad: Have been pounding the table since last Nov re the $VEEV short thesis. Above $40 it was the most heinously overvalued
TipRanks
10 Apr 14 13:53:12
2-star analyst Jennifer Swanson from Morgan Stanley reiterated a BUY rating on $VEEV
FilingsAnalysis
10 Apr 14 11:43:10
$VEEV, 13G filed by Price T Rowe Associates Inc MD http://t.co/QbRWKmPiNL
Andie Andrewson
10 Apr 14 10:52:05
$VEEV [video] Many got Tesla wrong: Pro http://t.co/q4IGE1jqQr
				
				
By  +Follow October 14, 2013 6:37PM
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