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Veeva Systems (VEEV) Stock Moves -0.88%: What You Should Know

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The most recent trading session ended with Veeva Systems (VEEV - Free Report) standing at $200.39, reflecting a -0.88% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.26%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 1.54%.

The provider of cloud-based software services for the life sciences industry's stock has dropped by 0.51% in the past month, exceeding the Computer and Technology sector's loss of 2.39% and the S&P 500's loss of 3.67%.

The investment community will be closely monitoring the performance of Veeva Systems in its forthcoming earnings report. In that report, analysts expect Veeva Systems to post earnings of $1.26 per share. This would mark year-over-year growth of 11.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $616.21 million, up 11.56% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.68 per share and a revenue of $2.37 billion, indicating changes of +9.35% and +9.89%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Veeva Systems. 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.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 shifted 0.16% upward. Veeva Systems currently has a Zacks Rank of #3 (Hold).

Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 43.22. This indicates a premium in contrast to its industry's Forward P/E of 37.43.

Also, we should mention that VEEV has a PEG ratio of 1.77. 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 1.46 as of yesterday's close.

The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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