For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Veeva Systems (VEEV - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Veeva Systems is one of 625 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. VEEV is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 7.53% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, VEEV has moved about 87.05% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 13.45% on a year-to-date basis. As we can see, Veeva Systems is performing better than its sector in the calendar year.
Looking more specifically, VEEV belongs to the Internet - Software industry, a group that includes 70 individual stocks and currently sits at #104 in the Zacks Industry Rank. Stocks in this group have gained about 32.38% so far this year, so VEEV is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track VEEV. The stock will be looking to continue its solid performance.