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Veeva Systems (VEEV) Stock Moves -1.09%: What You Should Know

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In the latest trading session, Veeva Systems (VEEV - Free Report) closed at $281.11, marking a -1.09% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.6%. On the other hand, the Dow registered a loss of 1.23%, and the technology-centric Nasdaq decreased by 2.24%.

The stock of provider of cloud-based software services for the life sciences industry has fallen by 0.03% in the past month, leading the Medical sector's loss of 3.44% and undershooting the S&P 500's gain of 2.25%.

The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. The company's upcoming EPS is projected at $1.9, signifying a 17.28% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $767.61 million, up 13.52% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.64 per share and revenue of $3.1 billion, indicating changes of +15.76% and +12.78%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. Veeva Systems is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, Veeva Systems is currently being traded at a Forward P/E ratio of 37.18. Its industry sports an average Forward P/E of 26.27, so one might conclude that Veeva Systems is trading at a premium comparatively.

Meanwhile, VEEV's PEG ratio is currently 1.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical Info Systems industry held an average PEG ratio of 2.78.

The Medical Info Systems industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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