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Why Veeva Systems (VEEV) Dipped More Than Broader Market Today
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In the latest close session, Veeva Systems (VEEV - Free Report) was down 3.6% at $151.43. This change lagged the S&P 500's daily loss of 0.11%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.35%.
Shares of the provider of cloud-based software services for the life sciences industry witnessed a loss of 13.12% over the previous month, trailing the performance of the Medical sector with its loss of 4.34%, and the S&P 500's gain of 0.51%.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's upcoming EPS is projected at $2.13, signifying a 8.12% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $857.33 million, up 12.95% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.81 per share and a revenue of $3.59 billion, signifying shifts of +8.77% and +12.47%, respectively, from the last year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.9% increase. As of now, Veeva Systems holds a Zacks Rank of #2 (Buy).
Digging into valuation, Veeva Systems currently has a Forward P/E ratio of 17.82. For comparison, its industry has an average Forward P/E of 18.98, which means Veeva Systems is trading at a discount to the group.
It's also important to note that VEEV currently trades at a PEG ratio of 0.75. 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 1.13 as of yesterday's close.
The Medical Info Systems industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why Veeva Systems (VEEV) Dipped More Than Broader Market Today
In the latest close session, Veeva Systems (VEEV - Free Report) was down 3.6% at $151.43. This change lagged the S&P 500's daily loss of 0.11%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.35%.
Shares of the provider of cloud-based software services for the life sciences industry witnessed a loss of 13.12% over the previous month, trailing the performance of the Medical sector with its loss of 4.34%, and the S&P 500's gain of 0.51%.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's upcoming EPS is projected at $2.13, signifying a 8.12% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $857.33 million, up 12.95% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.81 per share and a revenue of $3.59 billion, signifying shifts of +8.77% and +12.47%, respectively, from the last year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.9% increase. As of now, Veeva Systems holds a Zacks Rank of #2 (Buy).
Digging into valuation, Veeva Systems currently has a Forward P/E ratio of 17.82. For comparison, its industry has an average Forward P/E of 18.98, which means Veeva Systems is trading at a discount to the group.
It's also important to note that VEEV currently trades at a PEG ratio of 0.75. 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 1.13 as of yesterday's close.
The Medical Info Systems industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.