5 Biggest Losers on Thursday

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In this article, we discuss the 5 biggest losers of this morning. If you want to see some more stocks plummeting today, go directly to 10 Biggest Losers on Thursday.

5. Veeva Systems Inc. (NYSE:VEEV)

Number of Hedge Fund Holders: 45

Veeva Systems Inc. (NYSE:VEEV) announced better-than-expected financial results for its fiscal second quarter. However, its sales forecast for the current quarter and full year fell short of estimates, sending its shares down about 12 percent before the opening bell on Thursday.

The cloud-computing company reported adjusted earnings of $1.03 per share, compared to 94 cents per share in the year-ago period. Revenue for the quarter rose 17 percent versus last year to $534.2 million. Analysts expected Veeva Systems Inc. (NYSE:VEEV) to earn $1.01 per share on revenue of $530 million.

Looking forward, Veeva Systems Inc. (NYSE:VEEV) projected revenue of $545 – $547 million for the current quarter, below the consensus of $558.28 million. Moreover, its full-year sales outlook of $2.14 – $2.145 billion also missed the expectations of $2.17 billion.

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