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Why the Market Dipped But Veeva Systems (VEEV) Gained Today
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The latest trading session saw Veeva Systems (VEEV - Free Report) ending at $203.86, denoting a +0.04% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 1.43% over the past month, lagging the Computer and Technology sector's gain of 1.39% and the S&P 500's gain of 1.29% in that time.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's earnings report is expected on May 30, 2024. It is anticipated that the company will report an EPS of $1.43, marking a 57.14% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $641.73 million, reflecting a 21.92% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.14 per share and revenue of $2.73 billion, indicating changes of +26.86% and +15.61%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Veeva Systems presently features a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 33.17. This represents a premium compared to its industry's average Forward P/E of 29.61.
Also, we should mention that VEEV has a PEG ratio of 1.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.62 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Why the Market Dipped But Veeva Systems (VEEV) Gained Today
The latest trading session saw Veeva Systems (VEEV - Free Report) ending at $203.86, denoting a +0.04% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 1.43% over the past month, lagging the Computer and Technology sector's gain of 1.39% and the S&P 500's gain of 1.29% in that time.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's earnings report is expected on May 30, 2024. It is anticipated that the company will report an EPS of $1.43, marking a 57.14% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $641.73 million, reflecting a 21.92% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.14 per share and revenue of $2.73 billion, indicating changes of +26.86% and +15.61%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Veeva Systems presently features a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 33.17. This represents a premium compared to its industry's average Forward P/E of 29.61.
Also, we should mention that VEEV has a PEG ratio of 1.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.62 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.