Investors focused on the Computer and Technology space have likely heard of Veeva Systems (VEEV - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of VEEV and the rest of the Computer and Technology group's stocks.
Veeva Systems is one of 642 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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).
The Zacks Consensus Estimate for VEEV's full-year earnings has moved 12.23% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, VEEV has moved about 27.39% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 12.55%. 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 83 individual companies and currently sits at #45 in the Zacks Industry Rank. Stocks in this group have gained about 20.81% so far this year, so VEEV is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on VEEV as it attempts to continue its solid performance.