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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $151.78 in the latest trading session, marking a -0.9% move from the prior day. This change lagged the S&P 500's 0.05% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 2.87% over the past month. This has lagged the Computer and Technology sector's gain of 4.89% and the S&P 500's gain of 4.32% in that time.
VEEV will be looking to display strength as it nears its next earnings release, which is expected to be November 26, 2019. In that report, analysts expect VEEV to post earnings of $0.54 per share. This would mark year-over-year growth of 20%. Our most recent consensus estimate is calling for quarterly revenue of $275.35 million, up 22.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $1.07 billion. These totals would mark changes of +30.06% and +23.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for VEEV. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, VEEV is holding a Forward P/E ratio of 72.11. This represents a premium compared to its industry's average Forward P/E of 57.68.
Meanwhile, VEEV's PEG ratio is currently 3.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. VEEV's industry had an average PEG ratio of 2.69 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.