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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 $159.61, moving -0.94% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 6.88% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.41% and lagged the S&P 500's loss of 4.61% in that time.
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 $1.04 per share. This would mark year-over-year growth of 15.56%. Our most recent consensus estimate is calling for quarterly revenue of $552.24 million, up 13.75% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.19 per share and revenue of $2.14 billion, which would represent changes of +12.33% and +15.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. Veeva Systems is currently a Zacks Rank #3 (Hold).
In terms of valuation, Veeva Systems is currently trading at a Forward P/E ratio of 38.5. Its industry sports an average Forward P/E of 40.15, so we one might conclude that Veeva Systems is trading at a discount comparatively.
Meanwhile, VEEV's PEG ratio is currently 2.45. 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. The Internet - Software was holding an average PEG ratio of 2 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 64, putting it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $159.61, moving -0.94% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 6.88% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.41% and lagged the S&P 500's loss of 4.61% in that time.
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 $1.04 per share. This would mark year-over-year growth of 15.56%. Our most recent consensus estimate is calling for quarterly revenue of $552.24 million, up 13.75% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.19 per share and revenue of $2.14 billion, which would represent changes of +12.33% and +15.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. Veeva Systems is currently a Zacks Rank #3 (Hold).
In terms of valuation, Veeva Systems is currently trading at a Forward P/E ratio of 38.5. Its industry sports an average Forward P/E of 40.15, so we one might conclude that Veeva Systems is trading at a discount comparatively.
Meanwhile, VEEV's PEG ratio is currently 2.45. 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. The Internet - Software was holding an average PEG ratio of 2 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 64, putting it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.