Veeva Systems (VEEV) Dips More Than Broader Market: What You Should Know
In the latest trading session, Veeva Systems (VEEV) closed at $210.91, marking a -1.18% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.76%.
Shares of the provider of cloud-based software services for the life sciences industry have appreciated by 10.86% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 3.36%.
Investors will be eagerly watching for the performance of Veeva Systems in its upcoming earnings disclosure. The company is expected to report EPS of $1.30, up 13.04% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $620.75 million, indicating a 10.18% growth compared to the corresponding quarter of the prior year.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.76 per share and revenue of $2.35 billion. These results would represent year-over-year changes of +11.21% and +9.22%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.44% higher. Veeva Systems presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Veeva Systems is presently being traded at a Forward P/E ratio of 44.84. This denotes a premium relative to the industry's average Forward P/E of 34.36.
We can additionally observe that VEEV currently boasts a PEG ratio of 1.82. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry had an average PEG ratio of 1.73 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.
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Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
