The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Veeva Systems (VEEV - Free Report) been one of those stocks this year? 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 659 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 8.66% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that VEEV has returned about 67.04% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 0.15%. This shows that Veeva Systems is outperforming its peers so far this year.
Breaking things down more, VEEV is a member of the Internet - Software industry, which includes 89 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, this group has gained an average of 10.30% so far this year, meaning that VEEV is performing better 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.