The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Veeva Systems (VEEV - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Veeva Systems is a member of the Computer and Technology sector. This group includes 629 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. 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 1.68% 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 57.76% so far this year. At the same time, Computer and Technology stocks have gained an average of 34.24%. As we can see, Veeva Systems is performing better than its sector in the calendar year.
To break things down more, VEEV belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #155 in the Zacks Industry Rank. On average, this group has gained an average of 20.62% 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.