http://stockcharts.com/freecharts/gallery.html?veev
Veev has been discussed on this board as another one of those fast growthin cloud-based SAAS companies. They have a niche market supporting drug developement and testing - an seem to have a land-and-expand model going with new services coming on board.
The proper buy price for VEEV (coming out of it’s base) is $78.38 with a 5% max buy window that ends around $82.30. Volume today was up 116%, a sign that institutions are buying in. If you want to start a position or add, there seem to be strong tailwinds.
Ranked #1 in its stock group and very strong growth ratings.
Composite Rating 99 Pass
EPS Rating 93 Pass
RS Rating 85 Pass
Group RS Rating A+ Pass
SMR Rating A Pass
Acc/Dis Rating A- Pass
Its biggest weakness is that last 3 quarter’s average EPS growth has only been 20%, though the change last Q was 43% and 3 Yr EPS Growth Rate is 37%. Quite nice, as is 3 Yr Sales Growth Rate of 30%
P.
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Thanks, own some and VEEV now and on top of list to maybe pick up more. I believe less of a roller coaster ride and a much lower mid-longer term overall risk stock than many others covered here and NPI but has a long runway ahead, good margins, management, vision.
Have an aversion to buying anything on such an up day as today was on small-mid cap tech stocks but will keep an eye this week to pick up some more.
Have an aversion to buying anything on such an up day as today was on small-mid cap tech stocks but will keep an eye this week to pick up some more.
Yes, that is not the style of this board. It is the style of CANSLIM/IBD, to buy a stock when it is breaking out of a proper base and on strong volume (with strong fundamentals). VEEV has all that. The theory is that the approach will increase your odds and that the strong volume indicates institutional support. The big boys can’t get all the shares they want on day 1 of a break out, but you can. Then they are supporting you position as the accumulate their desired allocation. But this approach also has the rule that you sell at a max 7-8% loss (again, assuming you bought on the breakout).
The point of this post was to convey the strength we are seeing in a stock that some on this board really like.
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Great chart, the 16x sales is a bit tough to swallow.