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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Veeva Systems is a member of our Computer and Technology group, which includes 660 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. VEEV is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 7.53% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, VEEV has returned 66.84% so far this year. In comparison, Computer and Technology companies have returned an average of 2.30%. This means that Veeva Systems is outperforming the sector as a whole this year.
Looking more specifically, VEEV belongs to the Internet - Software industry, a group that includes 89 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 9.01% so far this year, so VEEV is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to VEEV as it looks to continue its solid performance.