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Veeva Systems (VEEV) Dips More Than Broader Markets: What You Should Know
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Veeva Systems (VEEV - Free Report) closed at $167.84 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.78%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 6.95% over the past month. This has lagged the Computer and Technology sector's gain of 8% and outpaced the S&P 500's gain of 5.97% in that time.
Investors will be hoping for strength from VEEV as it approaches its next earnings release. On that day, VEEV is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $259.31 million, up 23.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.03 per share and revenue of $1.05 billion, which would represent changes of +24.54% and +21.89%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for VEEV. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that VEEV has a Forward P/E ratio of 83.91 right now. This valuation marks a premium compared to its industry's average Forward P/E of 61.32.
Meanwhile, VEEV's PEG ratio is currently 5.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 3.02 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Veeva Systems (VEEV) Dips More Than Broader Markets: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $167.84 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.78%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 6.95% over the past month. This has lagged the Computer and Technology sector's gain of 8% and outpaced the S&P 500's gain of 5.97% in that time.
Investors will be hoping for strength from VEEV as it approaches its next earnings release. On that day, VEEV is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $259.31 million, up 23.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.03 per share and revenue of $1.05 billion, which would represent changes of +24.54% and +21.89%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for VEEV. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that VEEV has a Forward P/E ratio of 83.91 right now. This valuation marks a premium compared to its industry's average Forward P/E of 61.32.
Meanwhile, VEEV's PEG ratio is currently 5.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 3.02 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.