Veeva Systems (VEEV) Stock Moves -0.27%: What You Should Know
The latest trading session saw Veeva Systems (VEEV) ending at $218.76, denoting a -0.27% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The provider of cloud-based software services for the life sciences industry's stock has climbed by 4.76% in the past month, exceeding the Computer and Technology sector's gain of 3.1% and the S&P 500's gain of 3.56%.
Analysts and investors alike will be keeping a close eye on the performance of Veeva Systems in its upcoming earnings disclosure. The company's earnings report is set to go public on February 29, 2024. The company is forecasted to report an EPS of $1.30, showcasing a 13.04% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $620.75 million, reflecting a 10.18% rise from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Veeva Systems. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Veeva Systems is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Veeva Systems has a Forward P/E ratio of 39.57 right now. This denotes a premium relative to the industry's average Forward P/E of 31.91.
Meanwhile, VEEV's PEG ratio is currently 1.61. 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 industry had an average PEG ratio of 1.87 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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
