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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
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Veeva Systems (VEEV - Free Report) closed at $306.27 in the latest trading session, marking a -0.64% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 17.12% over the past month. This has outpaced the Computer and Technology sector's gain of 4.31% and the S&P 500's gain of 2.55% in that time.
VEEV will be looking to display strength as it nears its next earnings release. In that report, analysts expect VEEV to post earnings of $0.68 per share. This would mark 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.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $2.68 per share and revenue of $1.42 billion. These results would represent year-over-year changes of +22.37% and +28.61%, respectively.
Investors should also note any recent changes to analyst estimates for VEEV. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, VEEV is currently trading at a Forward P/E ratio of 115.02. This represents a premium compared to its industry's average Forward P/E of 88.56.
We can also see that VEEV currently has a PEG ratio of 7.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VEEV's industry had an average PEG ratio of 6.71 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $306.27 in the latest trading session, marking a -0.64% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 17.12% over the past month. This has outpaced the Computer and Technology sector's gain of 4.31% and the S&P 500's gain of 2.55% in that time.
VEEV will be looking to display strength as it nears its next earnings release. In that report, analysts expect VEEV to post earnings of $0.68 per share. This would mark 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.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $2.68 per share and revenue of $1.42 billion. These results would represent year-over-year changes of +22.37% and +28.61%, respectively.
Investors should also note any recent changes to analyst estimates for VEEV. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, VEEV is currently trading at a Forward P/E ratio of 115.02. This represents a premium compared to its industry's average Forward P/E of 88.56.
We can also see that VEEV currently has a PEG ratio of 7.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VEEV's industry had an average PEG ratio of 6.71 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.