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. Veeva Systems (VEEV - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Computer and Technology group, which includes 642 different companies and currently sits at #10 in 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 12.23% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that VEEV has returned about 37.84% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 17.18% on average. As we can see, Veeva Systems is performing better than its sector in the calendar year.
Breaking things down more, VEEV is a member of the Internet - Software industry, which includes 83 individual companies and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 27.47% 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.