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Veeva Systems (VEEV) Rises As Market Takes a Dip: Key Facts
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Veeva Systems (VEEV - Free Report) closed at $292.73 in the latest trading session, marking a +1.86% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 4.66% outpaced the Medical sector's gain of 3.09% and the S&P 500's gain of 0.92%.
Investors will be eagerly watching for the performance of Veeva Systems in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.95, reflecting a 11.43% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $791.88 million, showing a 13.25% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.78 per share and a revenue of $3.14 billion, representing changes of +17.88% and +14.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has moved 0.17% higher. Veeva Systems is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 36.95. This represents a discount compared to its industry average Forward P/E of 40.64.
One should further note that VEEV currently holds a PEG ratio of 1.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical Info Systems industry held an average PEG ratio of 3.33.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Veeva Systems (VEEV) Rises As Market Takes a Dip: Key Facts
Veeva Systems (VEEV - Free Report) closed at $292.73 in the latest trading session, marking a +1.86% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 4.66% outpaced the Medical sector's gain of 3.09% and the S&P 500's gain of 0.92%.
Investors will be eagerly watching for the performance of Veeva Systems in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.95, reflecting a 11.43% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $791.88 million, showing a 13.25% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.78 per share and a revenue of $3.14 billion, representing changes of +17.88% and +14.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has moved 0.17% higher. Veeva Systems is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 36.95. This represents a discount compared to its industry average Forward P/E of 40.64.
One should further note that VEEV currently holds a PEG ratio of 1.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical Info Systems industry held an average PEG ratio of 3.33.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.