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Veeva Systems (VEEV) Stock Moves -0.12%: What You Should Know

Zacks Equity Research
·3 min read

Veeva Systems (VEEV) closed at $265.18 in the latest trading session, marking a -0.12% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.16%, and the Nasdaq, a tech-heavy index, lost 0.82%.

Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 12.56% over the past month, lagging the Computer and Technology sector's gain of 2.54% and the S&P 500's gain of 3.87% in that time.

VEEV will be looking to display strength as it nears its next earnings release, which is expected to be December 1, 2020. On that day, VEEV is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 13.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $361.46 million, up 28.67% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.68 per share and revenue of $1.42 billion. These totals would mark changes of +22.37% and +28.61%, respectively, from last year.

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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. VEEV is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, VEEV currently has a Forward P/E ratio of 99.07. This represents a premium compared to its industry's average Forward P/E of 78.9.

Investors should also note that VEEV has a PEG ratio of 6.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 6.45 at yesterday's closing price.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research