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Here's Why Veeva Systems (VEEV) Gained But Lagged the Market Today
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In the latest trading session, Veeva Systems (VEEV - Free Report) closed at $194.28, marking a +0.92% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.97% for the day. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.39%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 5.05% over the past month, outpacing the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's earnings report is expected on August 28, 2024. The company is expected to report EPS of $1.53, up 26.45% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $667.21 million, up 13.04% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.15 per share and a revenue of $2.71 billion, representing changes of +27.07% and +14.46%, respectively, from the prior year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. Currently, Veeva Systems is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Veeva Systems is presently being traded at a Forward P/E ratio of 31.32. This indicates a premium in contrast to its industry's Forward P/E of 29.27.
We can also see that VEEV currently has a PEG ratio of 1.29. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why Veeva Systems (VEEV) Gained But Lagged the Market Today
In the latest trading session, Veeva Systems (VEEV - Free Report) closed at $194.28, marking a +0.92% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.97% for the day. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.39%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 5.05% over the past month, outpacing the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
The upcoming earnings release of Veeva Systems will be of great interest to investors. The company's earnings report is expected on August 28, 2024. The company is expected to report EPS of $1.53, up 26.45% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $667.21 million, up 13.04% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.15 per share and a revenue of $2.71 billion, representing changes of +27.07% and +14.46%, respectively, from the prior year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.02% fall in the Zacks Consensus EPS estimate. Currently, Veeva Systems is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Veeva Systems is presently being traded at a Forward P/E ratio of 31.32. This indicates a premium in contrast to its industry's Forward P/E of 29.27.
We can also see that VEEV currently has a PEG ratio of 1.29. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.