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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 at $166.81 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's daily gain of 1.36%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 3.76% in the past month. In that same time, the Computer and Technology sector lost 6.13%, while the S&P 500 gained 1.2%.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release. In that report, analysts expect Veeva Systems to post earnings of $1.07 per share. This would mark year-over-year growth of 10.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $545.78 million, up 14.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $2.14 billion, which would represent changes of +11.53% and +15.77%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 0.04% lower. Veeva Systems is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Veeva Systems currently has a Forward P/E ratio of 40.19. This represents a discount compared to its industry's average Forward P/E of 41.87.
Meanwhile, VEEV's PEG ratio is currently 2.43. 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. Internet - Software stocks are, on average, holding a PEG ratio of 2.27 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 68, putting it in the top 27% 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.
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Veeva Systems (VEEV) Stock Sinks As Market Gains: What You Should Know
Veeva Systems (VEEV - Free Report) closed at $166.81 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's daily gain of 1.36%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 3.76% in the past month. In that same time, the Computer and Technology sector lost 6.13%, while the S&P 500 gained 1.2%.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release. In that report, analysts expect Veeva Systems to post earnings of $1.07 per share. This would mark year-over-year growth of 10.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $545.78 million, up 14.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $2.14 billion, which would represent changes of +11.53% and +15.77%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 0.04% lower. Veeva Systems is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Veeva Systems currently has a Forward P/E ratio of 40.19. This represents a discount compared to its industry's average Forward P/E of 41.87.
Meanwhile, VEEV's PEG ratio is currently 2.43. 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. Internet - Software stocks are, on average, holding a PEG ratio of 2.27 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 68, putting it in the top 27% 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.