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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
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Veeva Systems (VEEV - Free Report) closed the most recent trading day at $319.22, moving -0.8% from the previous trading session. This change lagged the S&P 500's daily gain of 0.26%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 2.03% over the past month. This has lagged the Computer and Technology sector's gain of 2.31% and the S&P 500's gain of 2.37% in that time.
Wall Street will be looking for positivity from VEEV as it approaches its next earnings report date. This is expected to be September 1, 2021. The company is expected to report EPS of $0.86, up 19.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $451.28 million, up 27.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.49 per share and revenue of $1.82 billion, which would represent changes of +18.71% and +24.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for VEEV. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. VEEV is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, VEEV is currently trading at a Forward P/E ratio of 92.18. For comparison, its industry has an average Forward P/E of 63.11, which means VEEV is trading at a premium to the group.
It is also worth noting that VEEV currently has a PEG ratio of 5.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 3.73 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
Veeva Systems (VEEV - Free Report) closed the most recent trading day at $319.22, moving -0.8% from the previous trading session. This change lagged the S&P 500's daily gain of 0.26%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had gained 2.03% over the past month. This has lagged the Computer and Technology sector's gain of 2.31% and the S&P 500's gain of 2.37% in that time.
Wall Street will be looking for positivity from VEEV as it approaches its next earnings report date. This is expected to be September 1, 2021. The company is expected to report EPS of $0.86, up 19.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $451.28 million, up 27.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.49 per share and revenue of $1.82 billion, which would represent changes of +18.71% and +24.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for VEEV. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.31% lower. VEEV is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, VEEV is currently trading at a Forward P/E ratio of 92.18. For comparison, its industry has an average Forward P/E of 63.11, which means VEEV is trading at a premium to the group.
It is also worth noting that VEEV currently has a PEG ratio of 5.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 3.73 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.