Investors focused on the Computer and Technology space have likely heard of Veeva Systems (VEEV), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Veeva Systems is a member of the Computer and Technology sector. This group includes 635 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. VEEV is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 4.04% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, VEEV has returned 91.61% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 20.15% on average. This means that Veeva Systems is outperforming the sector as a whole this year.
Looking more specifically, VEEV belongs to the Internet - Software industry, which includes 83 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 38.16% this year, meaning that VEEV is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on VEEV as it attempts to continue its solid performance.
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