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Veeva Systems (VEEV) Stock Dips While Market Gains: Key Facts
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Veeva Systems (VEEV - Free Report) closed at $163.78 in the latest trading session, marking a -2.39% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.64%.
Shares of the provider of cloud-based software services for the life sciences industry witnessed a loss of 6.32% over the previous month, trailing the performance of the Medical sector with its gain of 0.31%, and the S&P 500's gain of 8.59%.
Market participants will be closely following the financial results of Veeva Systems in its upcoming release. The company is predicted to post an EPS of $2.13, indicating a 8.12% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $857.33 million, indicating a 12.95% increase compared to the same quarter of the previous year.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $8.81 per share and revenue of $3.59 billion. These results would represent year-over-year changes of +8.77% and +12.47%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Veeva Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.9% higher within the past month. Veeva Systems presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Veeva Systems is currently trading at a Forward P/E ratio of 19.04. This indicates a discount in contrast to its industry's Forward P/E of 22.26.
It is also worth noting that VEEV currently has a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. VEEV's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Veeva Systems (VEEV) Stock Dips While Market Gains: Key Facts
Veeva Systems (VEEV - Free Report) closed at $163.78 in the latest trading session, marking a -2.39% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.64%.
Shares of the provider of cloud-based software services for the life sciences industry witnessed a loss of 6.32% over the previous month, trailing the performance of the Medical sector with its gain of 0.31%, and the S&P 500's gain of 8.59%.
Market participants will be closely following the financial results of Veeva Systems in its upcoming release. The company is predicted to post an EPS of $2.13, indicating a 8.12% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $857.33 million, indicating a 12.95% increase compared to the same quarter of the previous year.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $8.81 per share and revenue of $3.59 billion. These results would represent year-over-year changes of +8.77% and +12.47%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Veeva Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.9% higher within the past month. Veeva Systems presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Veeva Systems is currently trading at a Forward P/E ratio of 19.04. This indicates a discount in contrast to its industry's Forward P/E of 22.26.
It is also worth noting that VEEV currently has a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. VEEV's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.