Andy Heilman
Principal Owner of MH & Associates
Veeva Systems will probably be one of the first companies to deliver real AI benefits to its clients and customers. Its latest report was excellent, with growth hitting solid double digits in everything that matters, and the stock rose 6-7% after hours. The weekly chart shows possible resistance around $263. x.comÂ
Veeva Systems remains a beaten-down healthcare SaaS leader that the market is pricing as if the business were broken, a view strongly disputed here. It ranks among the best risk/reward setups found in a search of beaten-down SaaS names. x.comÂ
Veeva Systems looks very interesting because its market-maturity and competition risks look more than priced in. The debate over those risks is unsettled, and Salesforce is going the wrong way, to Veeva's benefit. It is unclear AI is really a risk in a high-regulatory-barrier industry like Veeva's. It trades at 14.7x free cash flow burdened by $1.2B of stock-based compensation. "Risk more than priced in" is not a thesis that works in the short term. x.com x.comÂ
Veeva is one of the most investible SaaS names thanks to the industry it serves and its GAAP margins. Its legal battle with IQVIA appears to be over, and the two now partner in many areas, with IQVIA joining Veeva's CRO clinical data partner program. @JaredSleeper notes Veeva's 29% GAAP operating margin and $3.3B of ARR growing 16% a year. x.comÂ
Software's relative strength and sound finances make institutional rotation from semis plausible. It could lead while semis consolidate, despite slow growth at some firms; the market rewards cash flow, healthy balance sheets and manageable debt. Salesforce, ServiceNow, Palantir, Shopify and Workday hold up; SAP's cloud and AI shift, Instacart's massive 10-month base, Veeva's massive five-year base and Atlassian's Stage 2 strength add to the case. Semis may still rally; the view can change. x.com … Show more
Veeva Systems looks attractive based on a deep-dive analysis by @hollertotide, described as fascinating and as alpha. x.comÂ
ServiceNow's Q2 2026 results refute the bear case that AI is demo buzz without monetization. AI products crossed $1B in annual contract value, net new AI ACV accelerated over 40% sequentially, and customers running agentic AI in production grew ninefold in nine months, tracking toward a $1.5B full-year target. Revenue rose 24% to $3.99B, adjusted EPS of $0.90 beat $0.86, and cRPO grew 21% to $13.2B. Partnerships with Anthropic, Nvidia and Lenovo extend its role as an enterprise AI control tower. … Show more
