Veeva Systems (VEEV) Gains As Market Dips: What You Should Know
Veeva Systems (VEEV) closed the most recent trading day at $218.46, moving +0.78% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.3%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 3.87% over the past month. This has lagged the Computer and Technology sector's gain of 11.35% and the S&P 500's gain of 5.78% in that time.
The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. The company is slated to reveal its earnings on February 29, 2024. The company's earnings per share (EPS) are projected to be $1.30, reflecting a 13.04% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $620.75 million, up 10.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Veeva Systems holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 39.1. This indicates a premium in contrast to its industry's Forward P/E of 32.97.
We can additionally observe that VEEV currently boasts a PEG ratio of 1.59. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.67.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
