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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 $211.53 in the latest trading session, marking a -1.2% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 1.19% over the past month, lagging the Computer and Technology sector's gain of 4.4% and the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release, which is expected to be August 31, 2022. On that day, Veeva Systems is projected to report earnings of $1.01 per share, which would represent year-over-year growth of 7.45%. Meanwhile, our latest consensus estimate is calling for revenue of $530.75 million, up 16.5% from the prior-year quarter.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.14 per share and revenue of $2.17 billion. These results would represent year-over-year changes of +10.99% and +17.23%, respectively.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.05% lower. Veeva Systems is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Veeva Systems has a Forward P/E ratio of 51.71 right now. This valuation marks a premium compared to its industry's average Forward P/E of 42.78.
Meanwhile, VEEV's PEG ratio is currently 3.05. 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. The Internet - Software was holding an average PEG ratio of 2.64 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 134, putting it in the bottom 47% 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.
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Veeva Systems (VEEV) Dips More Than Broader Markets: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $211.53 in the latest trading session, marking a -1.2% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 1.19% over the past month, lagging the Computer and Technology sector's gain of 4.4% and the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release, which is expected to be August 31, 2022. On that day, Veeva Systems is projected to report earnings of $1.01 per share, which would represent year-over-year growth of 7.45%. Meanwhile, our latest consensus estimate is calling for revenue of $530.75 million, up 16.5% from the prior-year quarter.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.14 per share and revenue of $2.17 billion. These results would represent year-over-year changes of +10.99% and +17.23%, respectively.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.05% lower. Veeva Systems is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Veeva Systems has a Forward P/E ratio of 51.71 right now. This valuation marks a premium compared to its industry's average Forward P/E of 42.78.
Meanwhile, VEEV's PEG ratio is currently 3.05. 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. The Internet - Software was holding an average PEG ratio of 2.64 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 134, putting it in the bottom 47% 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.