Goldman Sachs gets it 👍 Started coverage on $VEEV, the leader in cloud-based software for the global life sciences industry. Price target of $253, which is roughly my valuation, too. Can’t believe the company hasn’t been added to the S&P 500 yet, just a matter of time.
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Since hiring is a hot topic right now: $VEEV is doing great! CEO Peter Gassner on the earnings call:
👨‍💻 +203 net employees in Q1
💪 No hiring freeze
🤯 The hiring environment actually got EASIER. People from speculative tech companies come to quality companies like Veeva Systems.
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$VEEV looks great lately and what an advantage it is for them to be able to keep hiring right now -- all while maintaining an impressive margin profile.

Hope to never consider selling this company -- great niche.
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Earnings Review: $CRWD, $ESTC, $MDB, $VEEV
With earnings season behind us (for my portfolio, that is), I wanted to share my thoughts on several holdings that reported strong quarters. Here is the high-level review:

$CRWD - Several people here have discussed the company now tracking customers with 7+ modules. This speaks for the quality of the platform and the strong demand for the products.

$ESTC - Quarter was strong but they are spending a high percentage of revenue (50%) and gross profit (70%!) on sales & marketing. Otherwise, results were solid.

$MDB - Huge beat on earnings. Atlas growth has accelerated year-over-year. Still a pricey stock in my opinion.

$VEEV - Beat and raise. Veeva Data Cloud is bringing some quality new features to the platform. Business as usual for Veeva.

More in-depth thoughts here:

"More impressively, customers adopting four, five, and six or more modules grew to 71%, 59% and 35%. More impressive still is the fact that they are now announcing the number of customers adopting seven or more modules (19%). This is an incredible demonstration of Crowdstrike growing with their customers. Oh, and management raised full-year 2023 guidance across the board. There’s a lot to like here."

Wow, they are killing it.
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Weekly market review (week/YTD)
$SPY -1.14%/-13.56%
$QQQ -0.94%/-23.04%
$VTV -1.56%/-2.81%
$VUG -0.72%/-24.20%
$ARKK -4.95%/-54.37%
Portfolio +0.72%/-13.77%
Indices going sideways in a short trading week.

I was on holiday in Scotland this week. Highly recommend! Beautiful country with a great culture 🏴󠁧󠁢󠁳󠁣󠁴󠁿
It’s refreshing to get away from the day-to-day business for a while to recharge.

This week, my portfolio outperformed because of good earnings reports from $CRM and $VEEV. Both are great businesses that will deliver for years to come. $AMZN also did its part, rising +10% before the 20:1 split on Monday.

Earnings are done for my selection of high-quality companies. With my strategy, now is the time to finish analyzing the reports and look at other exciting companies. There might be some gems that can be added to the main watchlist.

Check out my public @etoro portfolio to follow all my investments:
Earnings for the Week Ahead: What I am Watching
Last week of earnings for companies in the portfolio, and several larger holdings will be reporting this week. I'm not buying these relief rallies, but with strong results I'll be looking to add to these in the coming months.

Just a screenshot in time, but all my buys in May are positive. Big scary down days are my favorite buy days.
These positions are intended as long-term holds of quality companies, bought at undervalued prices when everybody else is scared.
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Makes it like shooting fish in a barrel. When everyone else is peak fear, I am peak greed. Simple. Effective.

I shared similar note yesterday. All positions bought 4-21 thru 5-21 being up >10%. Strategy greatly reduces downside risk, not sure why more don’t take advantage of it. Much safer than buying at the top🤷‍♂️, I thought the goal was buy low and sell high.
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Interesting, Undervalued Stocks: $VEEV, $BRLT, $CNSWF, $MAGT.TO
Interesting, undervalued stocks that we recently wrote bullish articles on:

Veeva Systems $VEEV (life sciences software)
Brilliant Earth Group $BRLT (high-growth, profitable jewelry retailer)
Constellation Software $CNSWF (software company with an excellent history of acquisitions)
Magnet Forensics $MAGT.TO $MAGTF (profitable, Canadian high-growth cybersecurity play)

Check out our most recent substack article below!

So, the market is tanking because of a stupid photo app for teens with no income? Ok, thanks for the cheap shares.
Just bought a little bit of $FB, $GOOG, $AMZN, $VEEV and $PINS for the public portfolio. This is crazy.
I think the R word has more to do with it, but yes adtech is tanking alongside $SNAP…falling consumer spending, rising capital costs, and lower overall growth expectations continue to help near term valuations compress. 🤷🏾‍♂️
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$VEEV - Why do I own it?
Veeva is a company that doesn't seem to be talked about much, but it has been a consistent winner for a decade. They've carved out a market niche and established themselves as the dominant player there. So, what makes this a portfolio favorite?

Main points:
  • Cash-generating machine
  • Impressive operating metrics
  • Wide moat within their primary market
  • Large product ecosystem
  • Opportunities for expansion into new verticals
  • The platform solves high pain-point operating challenges for their customers

I discuss a few risks as well, including some legal issues with one of their main competitors that could drag on for years.

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