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 our Computer and Technology group, which includes 641 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Within the past quarter, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 11.91% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, VEEV has returned 61.81% so far this year. In comparison, Computer and Technology companies have returned an average of 19.48%. 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 84 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, this group has gained an average of 29.73% 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.