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Veeva Systems (VEEV) Declines More Than Market: Some Information for Investors
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In the latest market close, Veeva Systems (VEEV - Free Report) reached $176.40, with a -1.29% movement compared to the previous day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.59%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 8.41% in the past month. In that same time, the Computer and Technology sector gained 10.56%, while the S&P 500 gained 7.87%.
The investment community will be closely monitoring the performance of Veeva Systems in its forthcoming earnings report. The company is scheduled to release its earnings on December 6, 2023. On that day, Veeva Systems is projected to report earnings of $1.28 per share, which would represent year-over-year growth of 13.27%. Meanwhile, our latest consensus estimate is calling for revenue of $615.92 million, up 11.51% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.67 per share and revenue of $2.36 billion, indicating changes of +9.11% and +9.49%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.49% lower. Veeva Systems is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Veeva Systems is currently exchanging hands at a Forward P/E ratio of 38.24. This signifies a premium in comparison to the average Forward P/E of 35.92 for its industry.
Meanwhile, VEEV's PEG ratio is currently 1.55. 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. Internet - Software stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Declines More Than Market: Some Information for Investors
In the latest market close, Veeva Systems (VEEV - Free Report) reached $176.40, with a -1.29% movement compared to the previous day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.59%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 8.41% in the past month. In that same time, the Computer and Technology sector gained 10.56%, while the S&P 500 gained 7.87%.
The investment community will be closely monitoring the performance of Veeva Systems in its forthcoming earnings report. The company is scheduled to release its earnings on December 6, 2023. On that day, Veeva Systems is projected to report earnings of $1.28 per share, which would represent year-over-year growth of 13.27%. Meanwhile, our latest consensus estimate is calling for revenue of $615.92 million, up 11.51% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.67 per share and revenue of $2.36 billion, indicating changes of +9.11% and +9.49%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.49% lower. Veeva Systems is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Veeva Systems is currently exchanging hands at a Forward P/E ratio of 38.24. This signifies a premium in comparison to the average Forward P/E of 35.92 for its industry.
Meanwhile, VEEV's PEG ratio is currently 1.55. 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. Internet - Software stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.