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Veeva Systems (VEEV) Dips More Than Broader Markets: What You Should Know
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Veeva Systems (VEEV - Free Report) closed at $187.27 in the latest trading session, marking a -0.42% move from the prior day. This move lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq gained 0.06%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 4.53% over the past month, lagging the Computer and Technology sector's loss of 2.75% and the S&P 500's loss of 2.85% in that time.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release, which 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.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.57 per share and revenue of $2.36 billion. These results would represent year-over-year changes of +6.78% and +9.74%, respectively.
It is also important to note the recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 41.12. For comparison, its industry has an average Forward P/E of 37.07, which means Veeva Systems is trading at a premium to the group.
Also, we should mention that VEEV has a PEG ratio of 2.03. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Veeva Systems (VEEV) Dips More Than Broader Markets: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $187.27 in the latest trading session, marking a -0.42% move from the prior day. This move lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq gained 0.06%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 4.53% over the past month, lagging the Computer and Technology sector's loss of 2.75% and the S&P 500's loss of 2.85% in that time.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release, which 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.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.57 per share and revenue of $2.36 billion. These results would represent year-over-year changes of +6.78% and +9.74%, respectively.
It is also important to note the recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 41.12. For comparison, its industry has an average Forward P/E of 37.07, which means Veeva Systems is trading at a premium to the group.
Also, we should mention that VEEV has a PEG ratio of 2.03. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.