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Veeva Systems (VEEV) Stock Sinks As Market Gains: Here's Why
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In the latest close session, Veeva Systems (VEEV - Free Report) was down 2.13% at $276.46. This move lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 0.74%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 0.37% over the past month, outpacing the Medical sector's loss of 2.12% and lagging the S&P 500's gain of 4.2%.
Investors will be eagerly watching for the performance of Veeva Systems in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.9, marking a 17.28% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $767.61 million, up 13.52% from the year-ago period.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $7.64 per share and revenue of $3.1 billion. These results would represent year-over-year changes of +15.76% and +12.78%, respectively.
Investors should also note any recent changes to analyst estimates for Veeva Systems. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.6% higher. Right now, Veeva Systems possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Veeva Systems is currently exchanging hands at a Forward P/E ratio of 36.95. This denotes a premium relative to the industry average Forward P/E of 28.78.
It is also worth noting that VEEV currently has a PEG ratio of 1.59. 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 Medical Info Systems was holding an average PEG ratio of 3.29 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Veeva Systems (VEEV) Stock Sinks As Market Gains: Here's Why
In the latest close session, Veeva Systems (VEEV - Free Report) was down 2.13% at $276.46. This move lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 0.74%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 0.37% over the past month, outpacing the Medical sector's loss of 2.12% and lagging the S&P 500's gain of 4.2%.
Investors will be eagerly watching for the performance of Veeva Systems in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.9, marking a 17.28% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $767.61 million, up 13.52% from the year-ago period.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $7.64 per share and revenue of $3.1 billion. These results would represent year-over-year changes of +15.76% and +12.78%, respectively.
Investors should also note any recent changes to analyst estimates for Veeva Systems. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.6% higher. Right now, Veeva Systems possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Veeva Systems is currently exchanging hands at a Forward P/E ratio of 36.95. This denotes a premium relative to the industry average Forward P/E of 28.78.
It is also worth noting that VEEV currently has a PEG ratio of 1.59. 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 Medical Info Systems was holding an average PEG ratio of 3.29 at yesterday's closing price.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.