Veeva Systems (VEEV) closed at $161.77 in the latest trading session, marking a +0.01% move from the prior day. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 1.05% in the past month. In that same time, the Computer and Technology sector gained 5.19%, while the S&P 500 gained 2.87%.
Wall Street will be looking for positivity from VEEV as it approaches its next earnings report date. On that day, VEEV is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $259.26 million, up 23.69% from the year-ago period.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $2.02 per share and revenue of $1.05 billion. These results would represent year-over-year changes of +23.93% and +21.83%, respectively.
Investors should also note any recent changes to analyst estimates for VEEV. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.17% lower within the past month. VEEV is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that VEEV has a Forward P/E ratio of 79.89 right now. Its industry sports an average Forward P/E of 64.41, so we one might conclude that VEEV is trading at a premium comparatively.
Investors should also note that VEEV has a PEG ratio of 6.43 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 3.63 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
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