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Why Veeva Systems (VEEV) Outpaced the Stock Market Today
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The most recent trading session ended with Veeva Systems (VEEV - Free Report) standing at $212.78, reflecting a +1.89% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. At the same time, the Dow added 0.69%, and the tech-heavy Nasdaq gained 0.8%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 2.1% over the past month. This has outpaced the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97% in that time.
The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. On that day, Veeva Systems is projected to report earnings of $1.57 per share, which would represent year-over-year growth of 17.16%. In the meantime, our current consensus estimate forecasts the revenue to be $683.69 million, indicating a 10.9% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.23 per share and a revenue of $2.71 billion, indicating changes of +28.72% and +14.55%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Veeva Systems. Such recent modifications usually signify the changing landscape of 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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 33.54. This signifies a premium in comparison to the average Forward P/E of 30.5 for its industry.
We can also see that VEEV currently has a PEG ratio of 1.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 2.28 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Veeva Systems (VEEV) Outpaced the Stock Market Today
The most recent trading session ended with Veeva Systems (VEEV - Free Report) standing at $212.78, reflecting a +1.89% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. At the same time, the Dow added 0.69%, and the tech-heavy Nasdaq gained 0.8%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 2.1% over the past month. This has outpaced the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97% in that time.
The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. On that day, Veeva Systems is projected to report earnings of $1.57 per share, which would represent year-over-year growth of 17.16%. In the meantime, our current consensus estimate forecasts the revenue to be $683.69 million, indicating a 10.9% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.23 per share and a revenue of $2.71 billion, indicating changes of +28.72% and +14.55%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Veeva Systems. Such recent modifications usually signify the changing landscape of 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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 33.54. This signifies a premium in comparison to the average Forward P/E of 30.5 for its industry.
We can also see that VEEV currently has a PEG ratio of 1.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 2.28 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.