NEW YORK (TheStreet) -- Shares of Veeva Systems (VEEV) - Get Report are soaring by 10.87% to $33 in after-hours trading on Thursday, after the company reported better-than-expected earnings and revenue for the 2017 first quarter. 

After the market close, the provider of cloud-based software solutions reported adjusted earnings of 15 cents per share, above analysts' estimates for 11 cents per share. 

Revenue rose by 33% year-over-year to $119.8 million for the most recent period, topping analysts' estimates for $115.5 million. 

Veeva expects to report adjusted earnings of 13 cents per share on revenues between $125.5 million and $127 million for the current quarter. Wall Street is looking for earnings of 13 cents per share on $123.2 million in revenue.

For the full year, Veeva anticipates adjusted earnings between 55 and 57 cents per share on revenue between $516 and $520 million. Analysts expect earnings of 55 cents per share on revenue of $512.2 million.

Separately, TheStreet Ratings team rates the stock as a "hold" with a rating score of C-.

Veeva's strengths such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.

You can view the full analysis from the report here: VEEV

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

Image placeholder title