Veeva Systems (VEEV - Free Report) closed the most recent trading day at $151.49, moving -1.81% from the previous trading session. This move lagged the S&P 500's daily gain of 1.13%. At the same time, the Dow added 1.68%, and the tech-heavy Nasdaq gained 0.43%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 10.83% over the past month. This has outpaced the Computer and Technology sector's gain of 5.2% and the S&P 500's gain of 2.1% in that time.
VEEV will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2020. On that day, VEEV is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 15.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $297.70 million, up 28.14% from the year-ago period.
Investors should also note any recent changes to analyst estimates for VEEV. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.73% lower. VEEV is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note VEEV's current valuation metrics, including its Forward P/E ratio of 61.15. This represents a premium compared to its industry's average Forward P/E of 51.59.
Investors should also note that VEEV has a PEG ratio of 2.8 right now. 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. VEEV's industry had an average PEG ratio of 2.61 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 109, putting it in the top 43% 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.