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 a member of the Computer and Technology sector. This group includes 641 individual stocks and currently holds a Zacks Sector Rank of #5. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. VEEV is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 11.91% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, VEEV has gained about 47.65% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 19.94% on average. 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 84 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 27.48% so far this year, meaning that VEEV is performing better 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.