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Veeva Systems (VEEV) Stock Moves -0.68%: What You Should Know
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In the latest trading session, Veeva Systems (VEEV - Free Report) closed at $191.22, marking a -0.68% move from the previous day. This change was narrower than the S&P 500's 1.16% loss on the day. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 1.14%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 6.94% over the past month. This has lagged the Computer and Technology sector's loss of 2.82% and the S&P 500's loss of 0.27% in that time.
Wall Street will be looking for positivity from Veeva Systems as it approaches its next earnings report date. This is expected to be August 30, 2023. In that report, analysts expect Veeva Systems to post earnings of $1.12 per share. This would mark year-over-year growth of 8.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $581.81 million, up 8.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.57 per share and revenue of $2.36 billion, which would represent changes of +6.78% and +9.74%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Veeva Systems is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 42.1. This represents a premium compared to its industry's average Forward P/E of 38.24.
Also, we should mention that VEEV has a PEG ratio of 2.08. 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. Internet - Software stocks are, on average, holding a PEG ratio of 1.65 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.
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Veeva Systems (VEEV) Stock Moves -0.68%: What You Should Know
In the latest trading session, Veeva Systems (VEEV - Free Report) closed at $191.22, marking a -0.68% move from the previous day. This change was narrower than the S&P 500's 1.16% loss on the day. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 1.14%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 6.94% over the past month. This has lagged the Computer and Technology sector's loss of 2.82% and the S&P 500's loss of 0.27% in that time.
Wall Street will be looking for positivity from Veeva Systems as it approaches its next earnings report date. This is expected to be August 30, 2023. In that report, analysts expect Veeva Systems to post earnings of $1.12 per share. This would mark year-over-year growth of 8.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $581.81 million, up 8.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.57 per share and revenue of $2.36 billion, which would represent changes of +6.78% and +9.74%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Veeva Systems is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 42.1. This represents a premium compared to its industry's average Forward P/E of 38.24.
Also, we should mention that VEEV has a PEG ratio of 2.08. 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. Internet - Software stocks are, on average, holding a PEG ratio of 1.65 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.