Why Veeva Systems (VEEV) Could Be Positioned for a Surge?

Zacks

Veeva Systems Inc. (VEEV) is an internet software company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on VEEV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Veeva Systems could be a solid choice for investors.
 
Current Quarter Estimates for VEEV
 
In the past 30 days, 2 estimates have gone higher for Veeva Systems with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from 5 cents a share 30 days ago, to 6 cents a share today, a move of 20%.
 
Current Year Estimates for VEEV
 
Meanwhile, Veeva Systems’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 20 cents a share 30 days ago to 22 cents a share today, an increase of 10%.
 
Bottom Line
 
The stock has also started to move higher lately, adding 14.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
 
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