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Has Veeva Systems (VEEV) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Veeva Systems (VEEV) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Veeva Systems is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. VEEV is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 2.86% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, VEEV has gained about 80.69% so far this year. In comparison, Computer and Technology companies have returned an average of 17.37%. 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 91 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, stocks in this group have gained 58.30% this year, meaning that VEEV is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track VEEV. The stock will be looking to continue its solid performance.


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