Veeva Systems Inc (NYSE:VEEV) shares are trading lower Thursday after the company reported financial results and issued topline guidance below analyst estimates.

Q2 Results: Veeva Systems reported fiscal second-quarter revenue of $534.2 million, which beat average analyst estimates of $530.61 million, according to Benzinga Pro. Veeva's topline results jumped 17% year-over-year. 

The company reported second-quarter earnings of $1.03 per share, which was up from 94 cents per share year-over-year. 

"We are very confident in our competitive position and we are performing well financially as we track ahead of our 2025 targets," said Brent Bowman, CFO of Veeva Systems.

Outlook: Veeva Systems expects third-quarter revenue to be between $545 million and $547 million versus the estimate of $558.28 million. The company expects third-quarter earnings to be between $1.07 and $1.08 per share.

Veeva Systems sees full-year revenue between $2.14 billion and $2.145 billion versus the estimate of $2.17 billion. The company expects full-year earnings of approximately $4.17 per share.

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Analyst Assessment: Several analysts adjusted price targets on the stock following the company's quarterly results.

VEEV Price Action: Veeva Systems has a 52-week high of $257.68 and a 52-week low of $152.04.

The stock was down 16.1% at $167.17 at time of publication.